- Mill City Ventures III ( OTCQB:MCVT ) has priced its underwritten public offering of 1.25M shares of common stock at $4.00/share, for aggregate gross proceeds of $5M.
- Underwriters green shoe options is for another 187,500 additional shares of common stock at the offering price.
- The company expects to commence trading on the Nasdaq Capital Market on Aug.10.
- In connection with the Nasdaq listing, the company will implement a reverse split of its issued and outstanding shares of common stock at a ratio of 1 for 2.25.
- The reverse stock split will be effective as on August 9, 2022.
- Offering is expected to close on August 11, 2022.
- Net proceeds of this offering will be used primarily for general corporate purposes, including working capital, expanded sales and marketing activities, and providing additional specialty short-term loans.
For further details see:
Mill City Ventures III prices $5.0M stock offering; uplists to Nasdaq