Smart for life announces exercise of warrants for $1.5 million gross proceeds

Miami, nov. 30, 2023 (globe newswire) -- smart for life, inc. (nasdaq: smfl) (“smart for life” or the “company”), a high growth global leader in the health & wellness sector marketing and manufacturing nutritional foods and supplements worldwide, today announced the agreement by several accredited investors to exercise certain outstanding warrants to purchase up to an aggregate of 877,001 shares of common stock of the company issued by the company on may 5, 2023, may 19, 2023 and may 31, 2023, having exercise prices between $19.53 and $27.72 per share, at a reduced exercise price of $1.77 per share. the shares of common stock issuable upon exercise of the warrants are registered pursuant to effective registration statements on form s-3 (file no. 333-271701 and 333-272424). the gross proceeds to the company from the exercise of the warrants are expected to be approximately $1.5 million, prior to deducting placement agent fees and estimated offering expenses.
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