SG Blocks Raises $11.55M Via Registered Direct Offering

October 25, 2021 4:27 PM | 1 min read | Make a Comment

SG Blocks Inc SGBX entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of ~3.16 million shares of its common stock, together with warrants to purchase up to ~1.89 million shares for gross proceeds of ~$11.55 million.
Each share and accompanying common warrant are being sold at a combined offering price of $3.65, and each common stock equivalent and accompanying common warrant are being sold at a combined offering price of $3.649.
The common warrants will have an exercise price of $4.80 per share and will expire five years from the date of issuance.
The offering is to close on October 27, 2021.
Price Action: SGBX shares closed lower by 23.96% at $3.65 on Monday.

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