ToughBuilt Industries Announces $7.5 Million Private Placement Priced At-The-Market under Nasdaq Rules

Nov 17, 2022

LAKE FOREST, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. (“ToughBuilt” or the “Company”) (NASDAQ: TBLT; TBLTW), today announced that it has entered into definitive agreements with several institutional investors for the issuance and sale of 2,619,911 shares of common stock (or pre-funded warrants in lieu thereof) and preferred investment options to purchase up to 10,619,911 shares of common stock at an offering price of $2.862692 per share (or pre-funded warrant) and accompanying preferred investment options, in a private placement priced at-the-market under Nasdaq rules. The preferred investment options are exercisable immediately upon issuance, have a term of three years and an exercise price of $2.356 per share. The private placement is expected to close on or about November 17, 2022, subject to the satisfaction of customary closing conditions.

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