other material
confidence high
sentiment neutral
materiality 0.75
Sharps Technology closes $20M upsized public offering of units with warrants
Sharps Technology Inc.
- Offering comprised 14,285,714 Common Units at $1.40/unit plus Pre-Funded Units at $1.3999.
- Each unit includes common stock or pre-funded warrant plus Series A and B warrants exercisable at $1.75.
- Net proceeds of ~$18.2M after 7% underwriting fee and expenses; Aegis Capital Corp. sole book-runner.
- Aegis exercised over-allotment for 2,142,857 Series A and 2,142,857 Series B warrants (not shares).
- Proceeds to be used for debt repayment, working capital, and general corporate purposes.