Business
Ecoark Announces $4.2 Million Registered Direct Offering
Ecoark Announces $4.2 Million Registered Direct Offering.
About this update from Riskon International, Inc.
[{"type":"text","content":"\n \n Ecoark \n Holdings, Inc. (“Ecoark”), to be renamed Zest Technologies, Inc., \n (OTCQX: ZEST), an innovative AgTech company, today announced that it has \n entered into definitive agreements with certain institutional investors \n for an offering of 2,500,000 shares of common stock, at a price per \n share of $1.68, issued with warrants to purchase 2,500,000 shares of \n common stock. The warrants have an exercise price of $2.00 per share and \n will expire five years from the date of issuance. The closing of the \n offering is expected to take place on or about March 16, 2018, subject \n to the satisfaction of customary closing conditions.\n \n \n Maxim Group LLC is acting as lead placement agent and The Benchmark \n Company, LLC is acting as co-placement agent in connection with this \n offering. Gross proceeds from the offering are expected to be \n approximately $4.2 million, excluding potential proceeds from the \n exercise of the warrants. After deducting the placement agents \n commission and other estimated offering expenses payable by Ecoark, the \n net proceeds to Ecoark are anticipated to be approximately $3.8 million. \n Ecoark intends to use the net proceeds of the offering for general \n corporate purposes and working capital.\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 Electronic copies of the prospectus supplement and accompanying base \n prospectus may also be obtained from Maxim Group LLC, 405 Lexington \n Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745.\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 jurisdi...