Business
Aterian Announces Pricing of $27.5 Million Private Placement
Strengthens Balance Sheet and Provides Additional Growth Capital NEW YORK, March 02, 2022 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the
About this update from Aterian, Inc.
[{"type":"text","content":"Strengthens Balance Sheet and Provides Additional Growth Capital\nNEW YORK, March 02, 2022 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) announced today that it has entered into a securities purchase agreement with certain accredited investors for a private placement transaction (the “Private Placement”). Aterian will issue and sell 9,450,172 shares of common stock (the “Common Stock”) (or, in lieu of shares of Common Stock, pre-funded warrants to purchase Common Stock (the “Pre-Funded Warrants”)) and accompanying warrants (the “Warrants”) exercisable six months from closing to purchase up to 7,087,630 shares of Common Stock for a period of five years at an exercise price of $3.20 per share (the “Offering”). Each share of Common Stock (or Pre-Funded Warrant in lieu thereof) and accompanying Warrant will be sold at a combined purchase price of $2.91. The Pre-Funded Warrants will have an exercise price of $0.0001 per share of Common Stock, be immediately exercisable and remain exercisable until exercised. The Company expects to receive gross proceeds from the Offering of approximately $27.5 million before deducting Offering expenses. Aterian intends to use the net proceeds from the Private Placement for working capital purposes, the conduct of its business and other general corporate purposes, which may include acquisitions, investments in or licenses of complementary products, technologies or businesses, operating expenses and capital expenditures. The Private Placement is expected to close on or about March 4, 2022, subject to the satisfaction of customary closing conditions. Craig-Hallum Capital Group LLC is acting as the sole placement agent for the Private Placement. The securities to be sold in the Private Placement have not been registered under the Securities Act of 1933, as amended, or state securities laws as of the time of issuance and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (\"SEC\") or an applicable exemption from such registration requirements. The Company has agreed to file one or more registration statements with the SEC registering the resale of the shares of common stock and the shares issuable upon exercise of the warrants purchased in the Private Placement. This press release shall not constitute an offer to ...