Management sells 1M shares in secondary offering at $21.00/share; company gets no proceeds

Karat Packaging Inc.

Secondary offering of 1,000,000 shares by selling stockholders (management) at $21.00 per share.
Underwriter granted 30-day option to purchase up to an additional 150,000 shares from selling stockholders.
Karat Packaging receives no proceeds from the offering; expected to close September 12, 2023.
Lake Street Capital Markets is sole book-running manager for the offering.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Karat Packaging Inc. entered into Underwriting Agreement with Lake Street Capital Markets, LLC (effective 2023-09-07).

Action: entry
Agreement: underwriting
Counterparty: Lake Street Capital Markets, LLC
Effective: 2023-09-07

Exact text from the filing

On September 7, 2023, Karat Packaging Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Lake Street Capital Markets, LLC, as the underwriter (the “Underwriter”), relating to the secondary offering of 1,000,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) by certain selling stockholders, at a public offering price of $21.00 per share (the “Offering”).

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Karat Packaging Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-076148

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