Snail, Inc. Announces Entry Into At The Market Offering Agreement

About this update from Snail, Inc.

[{"type":"text","content":"CULVER CITY, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Snail, Inc. (Nasdaq: SNAL) (“Snail” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, announced that it has entered into an At The Market Offering Agreement (the “Sales Agreement”) with H.C. Wainwright & Co. as sales agent to sell its shares of Class A Common Stock, par value $0.0001 per share (the “Class A Common Stock” or the “Shares”), from time to time in an at the market offering (the “Offering”). Pursuant to the Prospectus Supplement (as defined below) and accompanying base prospectus, we may offer and sell shares of the Class A Common Stock from time to time under the Sales Agreement, having an aggregate offering price of up to $4,500,000 in the Offering. Snail, Inc. currently intends to use the net proceeds from the sale of the shares of the Class A Common Stock offered by the Company under the Sales Agreement (if any) primarily for working capital to support the Company’s digital asset initiative that includes the evaluation and feasibility for introduction of the Company’s own proprietary stablecoin backed by U.S. dollars and for certain net proceeds to serve as the reserve asset for the stablecoins that the Company intends to issue. The sales, if any, of the Shares made in the Offering will be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the Nasdaq Capital Market (the “Nasdaq”) or any other existing trading market for the Class A Common Stock. The Offering will be made only by means of a prospectus supplement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 7, 2025, together with the accompanying base prospectus contained therein (the “Prospectus Supplement”), which Prospectus Supplement forms a part of the Company’s shelf registration statement on Form S-3 (File No. 333-282030) (the “Registration Statement”), which was declared effective by the SEC on September 20, 2024. Electronic copies of the Prospectus Supplement and accompanying base prospectus may be obtained on the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022 at...

More updates from Snail, Inc.