Forza x1 announces closing of public offering

Fort pierce, fl / accesswire / june 14, 2023 / forza x1, inc. (nasdaq:frza) ("forza", the "company"), a developer of electric sport boats aimed at promoting sustainable recreational boating, today announced the closing of a public offering of 5,334,000 shares of its common stock at a public offering price of $1.50 per share, for gross proceeds of $8,001,000, before deducting underwriting discounts and offering expenses. in addition, the company has granted the underwriters a 45-day option to purchase up to an additional 800,100 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount.
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