LogicMark, Inc. Announces Closing of $4.5 Million Public Offering Priced At-The-Market
The public offering consisted of 9,670,000 units (or pre-funded units in lieu thereof), with each unit consisting of one share of common stock (or pre-funded warrant in lieu thereof), one Series A warrant to purchase one share of common stock and one Series B warrant to purchase one share of common stock. Gross proceeds, before deducting placement agent discounts and commissions and estimated offering expenses, were approximately
Each unit was sold at a public offering price of $0.4654 (or
The offering was conducted pursuant to the Company's registration statement on Form S-1 (File No. 333-279133), as amended, which was declared effective by the U.S. Securities and Exchange Commission (“SEC”), on August 1, 2024. A final prospectus relating to the offering was filed with the SEC on
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to, among other things, the anticipated use of proceeds from the offering described above and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long-range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; the Company’s ability to maintain its Nasdaq listing for its common stock; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the
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investors@logicmark.com
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Source: LogicMark, Inc.