Business
Alfi, Inc. Announces Full-Exercise of Underwriters' Over-Allotment Option in Connection with Public Offering of Common Stock
MIAMI BEACH, FL / ACCESSWIRE / May 10, 2021 / Alfi, Inc. (NASDAQ:ALF) ("Alfi" or the "Company"), an AI enterprise SaaS platform company, powering computer
About this update from Centurion Acquisition Corp.
[{"type":"text","content":"MIAMI BEACH, FL / ACCESSWIRE / May 10, 2021 / Alfi, Inc. (NASDAQ:ALF) (\"Alfi\" or the \"Company\"), an AI enterprise SaaS platform company, powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user privacy, today announced the underwriters have exercised their over-allotment option to purchase an additional 559,701 shares and 559,701 warrants pursuant to the exercise in full of the overallotment option granted to the underwriters in connection with the Company's recently completed underwritten public offering of 3,731,344 shares of common stock and warrants to purchase 3,731,344 shares of common stock at a public offering price of $4.15 per share and warrant, less underwriting discounts and commissions. After giving effect to the sale of these additional shares, a total of 4,291,045 shares of common stock and 4,291,045 warrant were sold in the offering, for aggregate gross proceeds of approximately $17.8 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Alfi. The sale of these shares closed on Monday, May 10, 2021.The Company intends to use the net proceeds primarily for the rollout of Alfi enabled tablets into service, accelerate the rollout of its SaaS software platform and repayment of any outstanding indebtedness.Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as Sole Book-Running Manager for the Offering. Revere Securities LLC and WestPark Capital, Inc. acted as Co-Managers for the Offering.The common stock and units described above were offered by Alfi pursuant to a registration statement on Form S-1 (File No. 333-251959) that was originally filed with the Securities and Exchange Commission (\"SEC\") on January 8, 2021 and declared effective on May 3, 2021. The Offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Kingswood Capital Markets, a division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002. Before investing in this Offering, interested parties should read in their entirety the prospectus, which provides more information about...