Mict announces closing of $60 million registered direct offering priced at-the-market under nasdaq rules

Montvale, n.j., feb. 16, 2021 (globe newswire) -- mict, inc. (nasdaq: mict) (the "company"), today announced that it closed its previously announced registered direct offering of (i) 22,471,904 shares of common stock, (ii) 22,471,904 series a warrants to purchase 22,471,904 shares of common stock and (iii) 11,235,952 series b warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $2.67. the gross proceeds to mict from this offering are approximately $60,000,000, before deducting placement agent fees and other estimated offering expenses. the series a warrants are exercisable six months after the date of issuance, have an exercise price of $2.80 per share and expire five and one-half years from the date of issuance. the series b warrants are exercisable six months after the date of issuance, have an exercise price of $2.80 per share and expire three and one-half years from the date of issuance.
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