Business
Ecoark Holdings, Inc. Announces $8.0 Million Registered Direct Offering
Ecoark Holdings, Inc. Announces $8.0 Million Registered Direct Offering.
About this update from Riskon International, Inc.
[{"type":"text","content":"\n SAN ANTONIO, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Ecoark Holdings, Inc. (“Ecoark” or the “Company”) (OTC: ZESTD) announced that it has entered into a definitive agreement with a single institutional investor for the purchase of a total of 888,889 shares of its common stock and short-term warrants to purchase an aggregate of up to 888,889 shares of common stock, in a registered direct offering. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock is $9.00. The warrants have an exercise price of $10.00 per share, will be immediately exercisable and will have a term of two years. H.C. Wainwright & Co. is acting as exclusive placement agent for the offering. The gross proceeds from the offering are expected to be approximately $8.0 million. The Company intends to use the net proceeds to support its previously announced 2021 drilling program for its oil and gas exploration and production business, to repay certain outstanding debt obligations, and for working capital and other general corporate purposes. The offering is expected to close on or about December 31, 2020, subject to the satisfaction or waiver of customary closing conditions. The securities described above are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-249532) originally filed with the Securities and Exchange Commission (the “SEC”) on October 16, 2020, as amended, and declared effective on December 29, 2020. A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by email at [email protected] or by phone at (646) 975-6996. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or 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 jurisdiction. About Ecoark Holdings, Inc...