other material
confidence high
sentiment neutral
materiality 0.70
BT Brands prices 2.4M-unit public offering at $5.00/unit; net proceeds ~$10.94M
BT Brands, Inc.
- Offering of 2.4M units, each consisting of one common share and one warrant exercisable at $5.50.
- Underwriters exercised over-allotment for 360,000 warrants; closing occurred November 16, 2021.
- Net proceeds of ~$10.94 million after underwriting discounts and before ~$375,000 estimated expenses.
- Common stock and warrants began trading on Nasdaq Capital Market under BTBD and BTBDW on November 12, 2021.
- Maxim Group and Joseph Gunnar acted as representatives for the underwriters.