Business
NextPlat Announces Completion of $6.0M Private Offering of Common Stock Priced Above Market
COCONUT GROVE, FL / ACCESSWIRE / April 13, 2023 / NextPlat Corp (NASDAQ:NXPL)(NASDAQ:NXPLW) ("NextPlat" or the "Company"), a global e-commerce provider today
About this update from Nextplat Corp
[{"type":"text","content":"COCONUT GROVE, FL / ACCESSWIRE / April 13, 2023 / NextPlat Corp (NASDAQ:NXPL)(NASDAQ:NXPLW) (\"NextPlat\" or the \"Company\"), a global e-commerce provider today announced that on April 11, 2023, the Company completed the previously disclosed private placement transaction pursuant to which the Company sold to an accredited investor (the \"Investor\") 3,428,571 shares of the Company's common stock, $0.0001 par value per share. Upon the completion of the private placement transaction, NextPlat received gross proceeds of approximately $6.0 million.In connection with the offering, the Company is required to file an initial registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issued to the Investor within 120 calendar days of the closing date and to use commercially reasonable efforts to have the registration statement declared effective within 150 days following the closing date.ArentFox Schiff LLP, Washington, DC, acted as counsel to the Company in connection with the offering.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other 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 other jurisdiction.About NextPlat CorpNextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets for physical and digital assets. The Company intends to collaborate with businesses, optimizing their ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications services division through its Global Telesat Communications Ltd and Orbital Satcom Corp business units that offer voice, data, tracking, and IoT services to customers worldwide through multiple global storefronts.Forward-Looking StatementsCertain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words \"believe,\" \"forecast,\" \"project,\" \"intend,\" \"exp...