SURGW - SurgePays Announces Pricing of $15 Million Public Offering | Benzinga
BARTLETT, Tenn., Jan. 17, 2024 (GLOBE NEWSWIRE) -- SurgePays, Inc. (NASDAQ:SURG) ("SurgePays"), a technology and telecom company focused on the underbanked and underserved communities, today announced that it has priced its previously announced underwritten public offering of 2,678,571 shares of its common stock at an offering price of $5.60 per share of common stock led by certain new and existing institutional investors. SurgePays has granted the underwriters a 45-day option to purchase up to 401,785 additional shares of its common stock sold in the offering on the same terms and conditions. The Company expects to close the offering on January 22, 2024, subject to customary conditions.
Titan Partners Group, a division of American Capital Partners, is acting as sole book-running manager for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $15 million, before deducting the underwriting discounts, commissions and other offering expenses payable by the Company.
The offering is being made pursuant to an effective "shelf" registration statement on (File No. 333-273110) previously filed with the Securities and Exchange Commission (the "SEC") on July 3, 2023, as amended on August 4, 2023, September 9, 2023, October 23, 2023, and declared effective by the SEC on November 3, 2023. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC. The final terms of the ...