other material
confidence high
sentiment neutral
materiality 0.50
LogicMark closes $4.5M public offering of units with warrants; special meeting Oct 1 for reverse split
LogicMark, Inc.
- Gross proceeds ~$4.5M from sale of 9,670,000 units at $0.4654 per unit (or pre-funded units at $0.4644).
- Each unit includes one common share (or pre-funded warrant), one Series A warrant (5yr, $0.4654) and one Series B warrant (2.5yr, $0.4654); warrants exercisable only after stockholder approval.
- Net proceeds to be used for working capital and general corporate purposes.
- Special stockholder meeting scheduled for October 1, 2024 to approve reverse stock split and issuance of shares for Nasdaq listing compliance.