LogicMark closes $5.2M public offering of units and pre-funded units with warrants

LogicMark, Inc.

Gross proceeds of ~$5.2M from sale of 10,585,000 units and 3,440,000 pre-funded units at $0.371/unit.
Each unit includes one share (or pre-funded warrant) and one warrant to buy 1.5 shares at $0.371; warrants expire in 5 years.
Underwriters partially exercised over-allotment, adding 815,198 warrants for $8,151 in proceeds.
Net proceeds after ~$800,000 in fees and expenses will fund new product development and working capital.
Offering was priced above market; Maxim Group LLC acted as sole book-running manager.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LogicMark, Inc. entered into Underwriting Agreement with Maxim Group LLC valued at Underwriting Agreement (effective 2023-01-23).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Value: Underwriting Agreement
Effective: 2023-01-23

Exact text from the filing

On January 25, 2023 (the "Closing Date"), LogicMark, Inc., a Delaware corporation (the "Company"), in connection with a firm commitment public offering (the "Offering"), sold an aggregate of (i) 10,585,000 units (the "Units"), consisting of 10,585,000 shares (the "Shares") of common stock, par value $0.0001 per share (the "Common Stock") and 10,585,000 common stock purchase warrants exercisable at $0.371 per share, subject to certain adjustments (the "Warrants"), to purchase up to an aggregate of 15,877,500 shares of Common Stock, and (ii) 3,440,000 pre-funded units of the Company (the "Pre-Funded Units"), consisting of 3,440,000 pre-funded common stock purchase warrants exercisable at $0.001 per share, subject to certain adjustments (the "Pre-Funded Warrants"), and 3,440,000 Warrants to purchase up to an aggregate of 5,160,000 shares of Common Stock and (iii) 815,198 additional Warrants (the "Option Warrants") to purchase up to 1,222,797 shares of Common Stock, which Option Warrants w

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LogicMark, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-005212

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