Focus Universal Inc. Completes First Day of Trading on the Nasdaq Capital Market

Rhea-AI Summary

Focus Universal Inc. (NASDAQ:FCUV) has officially started trading on the Nasdaq Capital Market, with shares closing at $5.10 on their first day. The company raised $10 million through a public offering of 2,000,000 shares priced at $5.00 each. This offering was underwritten by Boustead Securities, LLC, and was made possible by a registration statement filed with the SEC.

Focus Universal specializes in patented technologies for IoT and 5G, aiming to tackle major issues in hardware and software design, potentially lowering costs and enhancing efficiency.

Positive

• Successful initiation of trading on Nasdaq with shares closing at $5.10.
• Raised $10 million from public offering of 2 million shares.
• Patented technologies aimed at reducing costs and improving efficiency in IoT and 5G sectors.

Negative

• None.

ONTARIO, CA / ACCESSWIRE / August 31, 2021 / Focus Universal Inc. (NASDAQ:FCUV) (the Company), a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G, today announced that its common stock commenced trading on the Nasdaq Capital Market today under the ticker symbol FCUV. The shares closed above the offering price at $5.10.

On August 30, 2021, the Company priced its firm commitment underwritten public offering (the Offering) of 2,000,000 common shares at a public offering price of $5.00 per share. The gross proceeds to the Company from the Offering were $10,000,000, before deducting underwriting discounts, commissions and other expenses.

Boustead Securities, LLC acted as the sole underwriter for the firm commitment Offering.

The securities described above are being sold by Focus Universal pursuant to a registration statement, as amended, filed by the Company with the Securities and Exchange Commission (the "SEC"), which was declared effective on August 30, 2021. The Offering has been made only by means of a prospectus. A copy of the final prospectus related to the Offering may be obtained, when available, from Boustead Securities, LLC, via email: offerings@boustead1828.com or by calling +1 (949) 502-4408 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

About Focus Universal:

Focus Universal Inc. (NASDAQ:FCUV) is a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G. The company has developed four disruptive patented technologies to solve the major problems facing hardware design, hardware production, software design and network communication facing both industries today. These technologies combined have potential to reduce costs, product development timelines and energy usage, while increasing range, speed, efficiency and security.

Forward-Looking Statements:

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Focus Universal specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

The Blueshirt Group, for Focus Universal
Lauren Sloane
Lauren@blueshirtgroup.com

For Company inquiries, please contact:

Desheng Wang
626-272-3883
IR@focusuniversal.com

For Underwriter inquiries, please contact:

Boustead Securities, LLC
Daniel J. McClory, Head of Equity Capital Markets
Tel: +1 949 502 4408
Email: dan@boustead1828.com

SOURCE: Focus Universal Inc.

View source version on accesswire.com:
https://www.accesswire.com/662285/Focus-Universal-Inc-Completes-First-Day-of-Trading-on-the-Nasdaq-Capital-Market

FAQ

What is the stock symbol for Focus Universal?

The stock symbol for Focus Universal is FCUV.

When did Focus Universal start trading on Nasdaq?

Focus Universal began trading on the Nasdaq Capital Market on August 31, 2021.

How much did Focus Universal raise in its public offering?

Focus Universal raised $10 million through its public offering.

What was the public offering price for Focus Universal shares?

The public offering price for Focus Universal shares was $5.00 each.

Who was the underwriter for Focus Universal's public offering?

Boustead Securities, LLC was the sole underwriter for the public offering.