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TOMI Environmental Announces Closing of $5.0 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules
FREDERICK, Md., Oct. 04, 2021 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (the “Company”) (NASDAQ: TOMZ), a global company specializing in
About this update from Tomi Environmental Solutions, Inc.
[{"type":"text","content":"FREDERICK, Md., Oct. 04, 2021 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® (the “Company”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination, today announced the closing on September 29, 2021 of its previously announced registered direct offering of 2,869,442 shares of its common stock priced at-the-market under Nasdaq rules. Additionally, the Company also issued to the investors unregistered warrants to purchase up to an aggregate of 1,434,721 shares of common stock in a concurrent private placement. The combined purchase price for one share of common stock and a warrant to purchase one half of one share of common stock was $1.7425. The warrants have an exercise price of $1.68 per share and are exercisable immediately upon issuance for a period of five years. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The gross proceeds to the Company from the offering were approximately $5.0 million. The Company currently intends to use the net proceeds from the offering for sales and marketing expenses associated with the Company’s products, advertising, purchase of inventory and other general corporate purposes. The shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) were offered and sold by the Company in a registered direct offering pursuant to a \"shelf\" registration statement on Form S-3 (Registration No. 333-249850), including an accompanying prospectus previously filed with the Securities and Exchange Commission (the \"SEC\") on November 4, 2020 and declared effective by the SEC on November 13, 2020. The offering of the shares of common stock was made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering of the shares of common stock was filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement and the accompanying prospectus may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at [email protected]. The warrants issued in the concurrent private placement and shares of common stock underlying the warrants...