Business
VirTra Announces Pricing of $18.0 Million Registered Direct Offering
TEMPE, Ariz., March 31, 2021 (GLOBE NEWSWIRE) -- VirTra, Inc. (NASDAQ: VTSI), a global provider of training simulators for the law enforcement, military,
About this update from Virtra, Inc.
[{"type":"text","content":"TEMPE, Ariz., March 31, 2021 (GLOBE NEWSWIRE) -- VirTra, Inc. (NASDAQ: VTSI), a global provider of training simulators for the law enforcement, military, educational, and commercial markets, today announced that it has entered into a securities purchase agreement with certain institutional investors, to purchase 3 million shares of common stock at a price of $6.00 per share, which is a premium to market based on the Nasdaq “Minimum Price” rule. The total gross proceeds of the offering are $18 million, before deducting the placement agents’ fees and other estimated offering expenses. Roth Capital Partners acted as the lead placement agent in this offering. Lake Street Capital Markets acted as co-placement agent for the offering. Maxim Group LLC acted as a financial advisor to the Company in connection with the offering. The registered direct offering is expected to close on or about April 5, 2021, subject to customary closing conditions. The Company intends to use the net proceeds from the offering for general corporate purposes, including general working capital. A shelf registration statement on Form S-3 (File No. 333-238624) relating to the shares of common stock to be issued in the registered direct offering was previously filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2020 and declared effective by the SEC on June 2, 2020. The offering of the shares will be made only by means of a prospectus supplement that forms a part of the registration statement. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, by calling (800) 678-9147 or by e-mail 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.About VirT...