Verb Technology prices $7.2M public offering of 36M shares at $0.20/share

TON Strategy Co

Gross proceeds $7.2M from 36,051,000 shares at $0.20 each; net proceeds ~$6.6M after discounts.
Offering closed Jan 26, 2023; Aegis Capital Corp. acted as sole book-runner.
Proceeds to be used for general corporate purposes and repayment of debt.
Company and insiders subject to 60-day lock-up on share sales without Aegis consent.

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

TON Strategy Co entered into Underwriting Agreement with Aegis Capital Corp. valued at approximately $6.6 million (effective 2023-01-24).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: approximately $6.6 million
Effective: 2023-01-24

Exact text from the filing

On January 24, 2023, Verb Technology Company, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (“Aegis”) as underwriter ( the “Underwriter”), relating to the offering, issuance and sale of up to 36,051,000 shares of the Company’s common stock, $0.0001 par value per share, at a public offering price of $0.20 per share.

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TON Strategy Co filing history →

Source: SEC EDGAR

accession 0001493152-23-002629

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