SinglePoint closes $4M public offering at $5/share, effectuates 1-for-26 reverse stock split

SinglePoint Inc.

Underwritten offering of 800,000 common shares at $5.00/share closed Dec 19, 2023; gross proceeds $4M, net ~$3.67M.
1-for-26 reverse stock split effective Dec 15, 2023; shares began trading on Cboe BZX under ticker SING.
Converted all outstanding Class D and E preferred stock and certain notes into ~4.84M common shares; no preferred shares or that debt remain.
Underwriters granted 45-day option for 120,000 additional shares; warrants for 16,000 shares at $6.50 (130% of offering price).
Net proceeds for general corporate purposes and repayment of up to $500,000 of indebtedness.

item 1.01 item 3.02 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

SinglePoint Inc.: Filed a Certificate of Change Amendment to effect a 1-for-26 reverse stock split and a proportionate reduction in authorized shares from 5,000,000,000 to 192,307,693 (effective 2023-12-14).

Change: charter amendment
Effective: 2023-12-14

Exact text from the filing

On December 14, 2023, the Company filed a Certificate of Change Amendment to its Amended and Restated Articles of Incorporation (the “ Certificate ”) with the Secretary of State of the State of Nevada to effect (i) a 1-for-26 reverse stock split (the “ Reverse Stock Split ”) of the Common Stock, and (ii) a proportionate related reduction in the number of the Company’s authorized shares of Common Stock from 5,000,000,000 to 192,307,693 (the “ Authorized Share Reduction ”).

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

SinglePoint Inc. entered into Underwriting Agreement with Alexander Capital, L.P. valued at $5.00 per share (effective 2023-12-14).

Action: entry
Agreement: underwriting
Counterparty: Alexander Capital, L.P.
Value: $5.00 per share
Effective: 2023-12-14

Exact text from the filing

On December 14, 2023, SinglePoint Inc. (the " Company ") entered into an Underwriting Agreement (the " Underwriting Agreement ") with Alexander Capital, L.P. (the " Representative "), as representative of the underwriters party thereto (together, with the Representative, the " Underwriters "), related to the Company’s public offering (the " Offering ") of 800,000 shares of common stock, par value $0.0001 (" Common Stock ") per share, of the Company (the " Firm Shares ").

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Source: SEC EDGAR

accession 0001477932-23-009242

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