Cemtrex, inc. announces closing of $10 million upsized underwritten public offering

Hauppauge, ny, may 03, 2024 (globe newswire) --  – cemtrex, inc. (nasdaq: cetx) (the “company”), an advanced security technology and industrial services company, today announced the closing of a firm commitment underwritten public offering with gross proceeds to the company of approximately $10 million, before deducting underwriting discounts and other estimated expenses payable by the company. the offering was upsized from $9 million. the base offering consisted of 11,764,705 common units or pre-funded units, each consisting of one share of common stock (“common share”) or one pre-funded warrant, one series a warrant to purchase one common share at an exercise price of $0.85 per share or pursuant to an alternative cashless exercise option, which warrant will expire two-and-a-half years from the closing date of this offering (the “series a warrant”) and one series b warrant to purchase one common share at an exercise price of $0.85 per share, which warrant will expire on the five-year anniversary of the closing date of this offering (the “series b warrants” and together with the series a warrants, the “warrants”). the purchase price of each common unit was $0.85, and the purchase price of each pre-funded unit was $0.849 (which is equal to the public offering price per common unit minus $0.001). the pre-funded warrants will be immediately exercisable and may be exercised at any time until all the pre-funded warrants are exercised in full.
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