Business
SurgePays Announces Closing of $15 Million Public Offering
BARTLETT, Tenn., Jan. 22, 2024 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays”), a technology and telecom company focused on the underbanked
About this update from Surgepays, Inc.
[{"type":"text","content":"BARTLETT, Tenn., Jan. 22, 2024 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays”), a technology and telecom company focused on the underbanked and underserved communities, announced today the closing of its previously announced underwritten public offering of 2,678,571 shares of its common stock. Each share of common stock was sold at a price to the public of $5.60 per share of common stock. The gross proceeds to SurgePays from this offering are expected to be approximately $15 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by SurgePays. Titan Partners Group, a division of American Capital Partners, acted as sole book-running manager for the offering. The offering was made pursuant to an effective “shelf” registration statement on (File No. 333-273110) previously filed with the Securities and Exchange Commission (the “SEC”) on July 3, 2023, as amended on August 4, 2023, September 9, 2023, October 23, 2023, and declared effective by the SEC on November 3, 2023. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering were filed with the SEC on January 19, 2024. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering,, may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Titan Partners Group, LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, New York 10007, by phone at (929) 833-1246 or by email at [email protected]. This press release does 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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About SurgePays SurgePays, Inc. is a technology and telecom company focused on the underbanked and underserved communities. SurgePays technology layered platform empowers clerks at over 8,000 convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers. SurgePays prepaid wireless companies provide services to over 250,000 low-income subscribers nationwid...