ZEST - Ecoark Holdings launches $8M registered direct offering

Ecoark Holdings (ZEST) entered into a definitive agreement with a single institutional investor for the purchase of a total of 888,889 shares and short-term warrants in a registered direct offering.Combined purchase price for one share and a warrant to purchase one share is $9.00. Warrants have an exercise price of $10/share, will be immediately exercisable and will have a term of two years.Gross proceeds is expected to be ~$8M; net proceeds to be used for support its previously announced 2021 drilling program for its oil and gas exploration and production business, to repay certain outstanding debt obligations, and for general corporate purposes.Offering expected to close on or about Dec.31, 2020.

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Ecoark Holdings launches $8M registered direct offering