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

Dec 13, 2022

COCONUT GROVE, FL / ACCESSWIRE / December 12, 2022 / NextPlat Corp (NASDAQ:NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-commerce provider today announced that it executed a binding Securities Purchase Agreement (the "Purchase Agreement") on December 9, 2022 with a number of institutional and accredited investors (the "Investors"), pursuant to which the Company agreed to sell 4,575,429 units (each, a "Unit"), each Unit consisting of 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. In connection with the Purchase Agreement, the Investors subscribed for, and NextPlat will receive gross proceeds of, approximately $8.0 million for the Units. Closing is expected to occur on or before December 14, 2022. This transaction will enhance the Company's balance sheet providing additional cash for working capital needs, potential acquisitions, joint ventures, and ongoing business transition activities.

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