ToughBuilt Industries Inc TBLT has priced a public offering of 10.97 million shares and warrants at $0.41 per share.
The warrants will have an exercise price of $0.29 per share, are exercisable upon issuance, and will expire five years following the date of issuance.
The gross proceeds to the company from the offering are expected to be $4.5 million.
ToughBuilt intends to use the net proceeds from the offering for general corporate purposes, including working capital.
The closing of the offering is expected to occur on or about June 23, 2023.
Price Action: TBLT shares are trading lower by 47% at $0.2960 on the last check Wednesday.
Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
