Kaspien closes $13.5 million bought deal offering of common stock

Spokane, wash., march 18, 2021 (globe newswire) -- kaspien holdings inc. (nasdaq: kspn) (the “company”), today announced the closing of an underwritten offering of 416,600 shares of common stock of the company, at a price to the public of $32.50 per share. the gross proceeds of the offering were approximately $13.5 million, prior to deducting underwriting discounts and commissions and estimated offering expenses. the company intends to use the net proceeds from this offering for general corporate purposes, including working capital to implement its strategic plans focused on brand acquisition, investments in technology to enhance its scalable platform and its core retail business.
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