SURG - SurgePays prices upsized $19.8M public offering uplisting to Nasdaq and reverse stock split

SurgePays (OTCQB:SURG) has priced its underwritten public offering of 4.6M units at a price to the public of $4.30 per unit for expected gross proceeds of $19.78M. Underwriters are granted a 45-day option to purchase up to an additional 690K shares of common stock and or equal number of warrants at the public offering price. Each unit in the offering consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $4.73 and an expiration date of three years from the date of issuance. The common stock and warrants are immediately separable and are expected to begin trading on the Nasdaq today, under the symbols “SURG” and “SURGW,” respectively. In connection with the offering, the Company will effectuate a reverse split of its issued and outstanding common stock at a ratio of 1-for-50, to be effective at 12:01 a.m.,

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SurgePays prices upsized $19.8M public offering, uplisting to Nasdaq and reverse stock split