Cemtrex closes public offering of units, raising ~$10.0M gross proceeds

CEMTREX INC

Aggregate gross proceeds to company ~$10.0M from sale of 11,764,705 Units and 11,210,000 Pre-Funded Units.
Each Unit priced at $0.85; Pre-Funded Unit at $0.849; includes Series A warrant (exercise $0.085, 2.5 yr) and Series B warrant (exercise $0.85, 5 yr).
Underwriter Aegis Capital received 7.0% discount and 0.5% expense allowance; over-allotment partially exercised for 1,764,705 each of Series A and B warrants.
Proceeds intended for general corporate purposes as per prospectus; warrants subject to stockholder approval for certain adjustment provisions.

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

CEMTREX INC entered into Underwriting Agreement with Aegis Capital Corp. valued at aggregate gross proceeds to the Company were approximately $10,035,000 (effective 2024-05-01).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: aggregate gross proceeds to the Company were approximately $10,035,000
Effective: 2024-05-01

Exact text from the filing

On May 1, 2024, Cemtrex, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (the “Underwriter”), in connection with a firm commitment underwritten public offering

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CEMTREX INC filing history →

Source: SEC EDGAR

accession 0001493152-24-017729

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