Toughbuilt industries announces pricing of $6 million public offering

Lake forest, calif., june 17, 2022 (globe newswire) -- toughbuilt industries, inc. (“toughbuilt” or the “company”) (nasdaq: tblt; tbltw), today announced the pricing of a public offering of 3,157,895 shares of its common stock (or pre-funded warrants in lieu thereof), together with warrants to purchase up to 3,157,895 shares of its common stock at an offering price to the public of $1.90 per share (or pre-funded warrant) and associated warrant. the warrants will have an exercise price of $1.90 per share, are exercisable upon issuance, and will expire five years following the date of issuance. the closing of the offering is expected to occur on or about june 22, 2022, subject to the satisfaction of customary closing conditions.
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