HCDI - Harbor Custom Development prices 1.95M shares at $5.125 in public offering

2023-05-16 09:43:39 ET

• Harbor Custom Development ( NASDAQ: HCDI ) has announced the pricing of a public offering of an aggregate of 1.95M shares and warrants to purchase 1.95M shares of common stock, at a combined public offering price of $5.125/share and accompanying warrant.
• The warrants will have an exercise price of $5/share, will be exercisable immediately upon issuance, and will expire 5 years from the date of issuance.
• The gross proceeds from this offering are expected to be ~$10M.
• The net proceeds will be used for real estate entitlements, and real estate construction and development; payment toward the balance of our loan with BankUnited, and working capital and general corporate purposes.
• The closing of the offering is expected to occur on or about May 18, 2023.

For further details see: