Locafy Limited Announces Closing of US$6.0 Million Initial Public Offering and Nasdaq Listing

Locafy Limited (“Locafy” or the “Company”) announced the closing of its initial public offering of units (the “Units”) at a public offering price of US$4.125 per Unit, for gross proceeds of approximately US$6.0 million, before deducting underwriting discounts, commissions, and other offering expenses. Each Unit is comprised of one ordinary share, no par value, and one warrant to purchase one ordinary share at an exercise price of US$4.125 per ordinary share with a term of five years. In addition, the Company granted the underwriter a 30-day option to purchase up to an additional 218,181 ordinary shares and/or warrants to purchase up to 218,181 ordinary shares, at the initial public offering price, less the underwriting discounts and commissions.

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H.C. Wainwright & Co. acted as sole book-running manager for the offering.

The Company intends to use the net proceeds of the offering to accelerate the commercialization of its existing technology, to continue to innovate by enhancing and developing alternative applications of its technology, reduce debt to strengthen its balance sheet, and execute potential strategic acquisitions, as well as for working capital and other general corporate purposes.

The ordinary shares and warrants of Locafy began trading on The Nasdaq Capital Market on March 25, 2022 under the symbols “LCFY” and “LCFYW”, respectively.

The securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-262442), filed with the Securities and Exchange Commission (“SEC”), and declared effective on March 24, 2022. This offering was made only by means of a prospectus. A final prospectus was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus may be obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or by email at placements@hcwco.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the 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 such jurisdiction.

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