Alfi Announces Launch of Initial Public Offering

Rhea-AI Summary

Alfi, Inc. has announced the launch of its initial public offering (IPO) of 3,000,000 shares of common stock and 3,000,000 warrants. The offering price is anticipated to be between $5.00 and $7.00. The shares and warrants will be separable but sold together. The stock is expected to trade under the ticker symbols ALF and ALFIW on Nasdaq. Kingswood Capital Markets is the sole bookrunner, with a 45-day option for underwriters to purchase an additional 450,000 shares. The registration statement has been filed with the SEC.

Positive

• Launch of IPO with 3,000,000 shares and 3,000,000 warrants.
• Offering price expected between $5.00 and $7.00.
• Potential for additional 450,000 shares if over-allotments occur.

Negative

• No assurance that the offering will be completed as planned.
• Forward-looking statements subject to numerous unspecified risks.

MIAMI BEACH, FL / ACCESSWIRE / April 20, 2021 / Alfi, Inc. ("Alfi" or the "Company"), an AI enterprise SaaS platform company powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user privacy, today announced that it plans to commence the roadshow for its proposed initial public offering of 3,000,000 shares of common stock and 3,000,000 warrants to purchase shares of common stock. The shares of common stock and warrants are immediately separable and will be issued separately, but will be purchased together in this offering. The combined initial public offering price is expected to be between $5.00 and $7.00. The common stock and warrants are expected to be listed on the Nasdaq Stock Market LLC ("Nasdaq") and trade under the ticker symbols "ALF" and "ALFIW", respectively.

Kingswood Capital Markets, division of Benchmark Investments, Inc. is acting as the sole bookrunner for this proposed offering. In addition, the Company intends to grant the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock and/or additional warrants in any combination thereof, solely to cover over-allotments, if any.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering may be obtained from Kingswood Capital Markets, ATTN: Investment Banking Department, 17 Battery Place, Suite 625, New York, NY 10004 or by email at info@kingswoodcm.com.

A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alfi, Inc.

Alfi, Inc., led by Paul Pereira, provides solutions that bring transparency and accountability to the digital out of home advertising marketplace. Since 2018, Alfi, Inc. has been developing its platform that uses artificial intelligence and machine learning to deliver targeted advertising in an ethical and privacy-conscious manner.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Alfi Inc. Company Contact

Dennis McIntosh
Chief Financial Officer
d.mcintosh@getalfi.com

Alfi Inc. Investor Relations

TraDigital Marketing Group, Inc.
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

SOURCE: Alfi, Inc.

View source version on accesswire.com:
https://www.accesswire.com/641215/Alfi-Announces-Launch-of-Initial-Public-Offering

FAQ

What is the initial public offering (IPO) announced by Alfi, Inc.?

Alfi, Inc. announced an IPO comprising 3,000,000 shares of common stock and 3,000,000 warrants, expected to be priced between $5.00 and $7.00.

When will Alfi, Inc.'s shares and warrants begin trading?

The shares and warrants are expected to trade on Nasdaq under the ticker symbols ALF and ALFIW once the registration statement becomes effective.

Who is handling the IPO for Alfi, Inc.?

Kingswood Capital Markets is acting as the sole bookrunner for Alfi's proposed initial public offering.

What risk factors are associated with Alfi, Inc.'s IPO?

The offering is subject to numerous conditions, many of which are beyond the company's control, as detailed in the SEC filing.

What is the size of the overallotment option for Alfi, Inc.'s IPO?

The underwriters have a 45-day option to purchase up to an additional 450,000 shares of common stock or warrants.