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

Montvale, n.j., feb. 11, 2021 (globe newswire) -- mict, inc. (nasdaq: mict) (the "company"), today announced it has entered into securities purchase agreements with institutional investors for the purchase and sale 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 expected to be approximately $60,000,000 before deducting placement agent fees and other estimated offering expenses. the series a warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire five and one-half years from the date of issuance. the series b warrants will be exercisable six months after the date of issuance, have an exercise price of $2.80 per share and will expire three and one-half years from the date of issuance. the offering is expected to close on or about february 16, 2021, subject to customary closing conditions.
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