NextPlat Announces Completion of $8.0M Private Offering of Common Stock and Warrants Priced Above Market

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Dec 15, 2022

COCONUT GROVE, FL / ACCESSWIRE / December 14, 2022 / NextPlat Corp (NASDAQ:NXPL)(NXPLW) ("NextPlat" or the "Company"), a global e-commerce provider today announced that on December 14, 2022, the Company completed the previously disclosed private placement transaction pursuant to which the Company sold to a number of institutional and accredited investors (the "Investors") 4,575,429 units (each, a "Unit"), each Unit consisting of (i) one share of the Company's common stock, $0.0001 par value per share (the "Common Stock"), and (ii) one warrant to purchase a share of Common Stock. The offering price of the Units was $1.75 per Unit. The warrants included in the Units are exercisable at a price of $1.75 per share and expire three years from the date of issuance. Upon the completion of the private placement transaction, NextPlat received gross proceeds of approximately $8.0 million for the Units and retained net proceeds of approximately $7.4 million after deducting placement agent fees and offering expenses payable by the Company.