Tomi Environmental Solutions Trips On $5 Mln At: the-market stock offering

TOMI Environmental Solutions

27/09/2021 19:02

** Shares of infection prevention and decontamination
products provider  TOMZ.O  down 15.6% at $1.41
    ** Co enters into definitive agreements with several
institutional investors for issuance and sale of ~2.87 mln
shares in direct offering priced at-the-market for gross
proceeds of ~$5 mln  urn:newsml:reuters.com:*:nGNX6NfNwm
    ** TOMZ also agreed to issue to investors unregistered
warrants to purchase up to an aggregate of ~1.43 mln shares in a
concurrent private placement
    ** The combined purchase price for one share and a warrant
to purchase one half of one share is $1.7425; warrants have an
exercise price of $1.68/shr and are exercisable immediately upon
issuance for a period of five years
    ** Offering to close on Sept 29
    ** Net proceeds from offering to be used for sales and
marketing expenses of products, advertising, purchase of
inventory and other general corporate purposes
    ** H.C. Wainwright & Co. is acting as the exclusive
placement agent for the offering
    ** TOMZ has ~16.81 mln shares outstanding worth $28.08 mln -
Refinitiv data
    ** As of last close, stock had fallen ~63.5% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))