Business
Ecoark Announces $10 Million Registered Direct Offering
Ecoark Announces $10 Million Registered Direct Offering.
About this update from Riskon International, Inc.
[{"type":"text","content":"\n \n Ecoark Holdings, Inc. (OTCQX: EARK), a diversified holding company, \n today announced that it has entered into definitive agreements with two \n existing institutional investors for an offering of 2,500,000 shares of \n common stock, at a price per share of $4.00, issued with warrants to \n purchase 1,875,000 shares of common stock. The warrants have an exercise \n price of $5.50 per share and will expire five years from the date of \n issuance. The closing of the offering is expected to take place on or \n about May 26, 2017, subject to the satisfaction of customary closing \n conditions.\n \n \n Rodman & Renshaw, a unit of H.C. Wainwright & Co., is acting as the \n exclusive placement agent in connection with this offering. Net proceeds \n from the offering are expected to be approximately $9.1 million, \n excluding potential proceeds from the exercise of the warrants. Ecoark \n intends to use the net proceeds from the offering for growth and working \n capital to help its subsidiaries’ commercialization efforts, such as \n Zest Labs, and to add additional strategic acquisitions to its portfolio.\n \n \n The securities described above are being offered by Ecoark Holdings \n pursuant to a shelf registration statement (File No. 333-213186) \n previously filed with and subsequently declared effective by the \n Securities and Exchange Commission (the “SEC”). A prospectus supplement \n relating to the offering will be filed with the SEC and will be \n available on the SEC’s website at http://www.sec.gov \n and following such filing, copies of the prospectus supplement and the \n accompanying base prospectus relating to this offering may be obtained \n at the SEC’s website at http://www.sec.gov, \n or from H.C. Wainwright & Co., LLC by e-mailing [email protected] \n or calling 646-975-6996.\n \n \n This press release shall not constitute an offer to sell or the \n solicitation of an offer to buy any of the securities described herein. \n There shall not be any offer, solicitation of an offer to buy, or sale \n of securities in any state or jurisdiction in which such an offering, \n solicitation, or sale would be unlawful prior to registration or \n qualification under the securities laws of any such state or \n jurisdiction.\n \n \n About Ecoark Holdings Inc.\n \n \n Founded in 201...