TBLT - ToughBuilt Industries launches $40M direct offering

ToughBuilt Industries, (TBLT) inks securities purchase agreements for the issuance and sale of 46,029,920 shares of common stock and warrants to purchase up to 23,014,960 common shares at $0.869/share and accompanying warrant in a registered direct offering priced at-the-market.Expected gross proceeds are ~$40M.The five years warrants will have an exercise price of $0.81/share.Net proceeds will be used for working capital purposes.Closing date is July 14. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

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ToughBuilt Industries launches $40M direct offering