Business
Ecoark Holdings, Inc. Announces That Shelf Registration Statement has Been Declared Effective by the SEC
Ecoark Holdings, Inc. Announces That Shelf Registration Statement has Been Declared Effective by the SEC.
About this update from Riskon International, Inc.
[{"type":"text","content":"\nEcoark Holdings, Inc. Announces That Shelf Registration Statement has Been Declared Effective by the SEC\n\nEcoark Holdings, Inc. Announces That Shelf Registration Statement has Been Declared Effective by the SEC\n\n\nCompany Plans to Raise up to $80 Million for Infrastructure and Equipment Ahead of Anticipated Demand for Intelleflex's Zest Fresh(TM) \n\nROGERS, AR--(Marketwired - August 25, 2016) - Ecoark Holdings, Inc. (OTCQB: EARK) (\"Ecoark\"), a provider of a growing suite of proprietary technologies and services that drive sustainability and facilitate sustainable growth for a wide range of clients, today announced that the Securities and Exchange Commission (\"SEC\") has declared effective its Form S-3 Shelf Registration Statement filed to allow the Company to raise up to $80 million.\"Over the past month, the Ecoark team has analyzed the operational needs required to meet the anticipated demand for Zest Fresh™. Based on the outcome of this review, we have determined a need to accelerate our hiring program and to significantly ramp up our hardware to satisfy the anticipated customer demand ahead of the product's launch,\" said Randy May, Chairman and CEO of Ecoark. \"To prepare for the commercial launch of Zest Fresh™, we need to be vigilant and begin our preparation for anticipated customer demand.\"As we are accelerating our growth strategy for Zest Fresh™, and with the effectiveness of our Shelf Registration Statement, we will withdraw our current application with the Nasdaq Capital Market in favor of a potential future uplisting in connection with a significant capital raise. We are currently speaking with investment banks that will increase our profile and institutional investor support.\"Reducing food loss remains a significant goal for grocery retailers, restaurants, and food service companies, as they look to improve profitability for their investors and sustainability for their communities. Given the amount of food loss in the U.S. market, there is significant opportunity for growth in supplying an effective solution. ZEST Fresh™ represents a breakthrough quality management solution, with demonstrated effectiveness as the only real-time, unit-level freshness management tool that is both practical and immediately cost-effective.The offering of these securities may only be made by means of...