Toughbuilt industries announces $7.5 million private placement priced at-the-market under nasdaq rules

Lake forest, calif., nov. 17, 2022 (globe newswire) -- toughbuilt industries, inc. (“toughbuilt” or the “company”) (nasdaq: tblt; tbltw), today announced that it has entered into definitive agreements with several institutional investors for the issuance and sale of 2,619,911 shares of common stock (or pre-funded warrants in lieu thereof) and preferred investment options to purchase up to 10,619,911 shares of common stock at an offering price of $2.862692 per share (or pre-funded warrant) and accompanying preferred investment options, in a private placement priced at-the-market under nasdaq rules. the preferred investment options are exercisable immediately upon issuance, have a term of three years and an exercise price of $2.356 per share. the private placement is expected to close on or about november 17, 2022, subject to the satisfaction of customary closing conditions.
TBLT Ratings Summary
TBLT Quant Ranking