Press release
TSS, Inc. Announces Closing of $58.7 Million Public Offering of Common Stock, Including Full Exercise of Over-Allotment Option
GEORGETOWN, TX / ACCESS Newswire / August 14, 2025 / TSS, Inc. (Nasdaq:TSSI) (the "Company" or "TSS"), a data center services company that provides AI and
About this update from Tss, Inc.
[{"type":"text","content":"GEORGETOWN, TX / ACCESS Newswire / August 14, 2025 / TSS, Inc. (Nasdaq:TSSI) (the \"Company\" or \"TSS\"), a data center services company that provides AI and high-performance computing infrastructure and software integration services, today announced the closing of its previously announced underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $17.00 per share of common stock, before deducting underwriting discounts, commissions and offering expenses. In addition, the underwriter has exercised the overallotment option for the sale of an additional 450,000 shares of common stock. Gross proceeds to the Company, before deducting underwriting discounts, commissions and offering expenses, were approximately $58.7 million. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, working capital and growth capital.Lucid Capital Markets acted as the sole book-running manager for the offering.CEO Darryll Dewan commented, \"This offering provides TSS the flexibility to continue to invest in our infrastructure and processes to be the best AI IT integration supplier in the market. Further, we are exploring opportunities to grow our company by broadening our capabilities and go-to-market approaches and resources. The capital raised today will be a critical component of these initiatives and a wonderful sign of strength to our customers.\"All the shares of common stock to be sold in the offering were sold by the Company. The offering closed on August 14, 2025.The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-284153) filed with the Securities and Exchange Commission (\"SEC\") on January 7, 2025, and declared effective by the SEC on July 2, 2025. A final prospectus supplement, preliminary prospectus supplement and accompanying prospectus relating 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 accompanying prospectus relating to the offering may also be obtained by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th Floor, New York, NY 10022.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale ...