Business
Sanara MedTech Inc. Announces Closing of $31.6 Million Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares
FORT WORTH, TX / ACCESSWIRE / February 17, 2021 / Sanara MedTech Inc.Based in Fort Worth, Texas, Sanara MedTech Inc. ("Sanara," the "Company," "we," "our" or
About this update from Sanara Medtech Inc.
[{"type":"text","content":"FORT WORTH, TX / ACCESSWIRE / February 17, 2021 / Sanara MedTech Inc.Based in Fort Worth, Texas, Sanara MedTech Inc. (\"Sanara,\" the \"Company,\" \"we,\" \"our\" or \"us\") (NASDAQ:SMTI), a provider of wound and skin care products dedicated to improving patient outcomes, today announced the closing of its underwritten public offering of 1,265,000 shares of common stock at a public offering price of $25.00 per share, including 165,000 shares of common stock issued pursuant to the full exercise by the underwriters of their option to purchase additional shares of common stock, resulting in gross proceeds of $31.6 million, before deducting underwriting discounts and commissions and estimated offering expenses.Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering.Sanara expects to use the net proceeds from the offering to expand its salesforce and for further development of its products, services and technologies pipeline, clinical studies and general corporate purposes, including working capital.A shelf registration statement relating to the shares of common stock offered in the offering was previously filed with the Securities and Exchange Commission (\"SEC\") and declared effective by the SEC on January 4, 2021. A final prospectus supplement and accompanying base prospectus related to the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus may also be obtained from Cantor Fitzgerald & Co., 499 Park Avenue, 6th Floor, New York, NY 10022, Attn: Capital Markets Department, or by email at [email protected] press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Sanara MedTech Inc.With a focus on improving patient outcomes through evidence-based healing solutions and services, Sanara MedTech Inc. markets and distributes wound and skin care products and is seeking to offer wound care and dermatology virtual consultation services via telemedicine to physicians, hospitals, clinics, and all po...