SurgePays prices $15M public offering of 2,678,571 shares at $5.60/share

SurgePays, Inc.

Gross proceeds ~$15M; net proceeds ~$13.7M ($15.9M if underwriter option exercised).
Offering priced at $5.60/share; underwriter has 45-day option for additional 401,785 shares.
Titan Partners Group acted as sole book-running manager; offering closed Jan 22, 2024.
Company raised capital for general corporate purposes via effective S-3 shelf registration.
Issuance represents ~6.6% of pre-offering shares (1,680,000 shares outstanding pre-money).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SurgePays, Inc. entered into Underwriting Agreement with Titan Partners Group, a division of American Capital Partners valued at Sale of 2,678,571 shares of common stock at $5.60 per share, with option for up to 401,785 additiona (effective 2024-01-17).

Action: entry
Agreement: underwriting
Counterparty: Titan Partners Group, a division of American Capital Partners
Value: Sale of 2,678,571 shares of common stock at $5.60 per share, with option for up to 401,785 additiona
Effective: 2024-01-17

Exact text from the filing

On January 17, 2024, SurgePays, Inc., a Nevada corporation (the " Company "), entered into an underwriting agreement (the " Underwriting Agreement ") with Titan Partners Group, a division of American Capital Partners, as representative of the underwriters named therein (the " Underwriters ") relating to the issuance and sale of 2,678,571 shares (the " Shares ") of the Company's common stock, par value $0.001 per share (the " Offering ").

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SurgePays, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-003138

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