Mawson Infrastructure Group Inc. Prices $45.0 Million Underwritten Public Offering and Listing on the Nasdaq Capital Market
Mawson Infrastructure Group (OTCQB:MIGI) announced the pricing of a public offering of 3,913,044 shares and 1,956,522 warrants at $11.50 each, aiming for approximately $45 million in gross proceeds. An additional 30-day option for 586,956 shares and 293,478 warrants is available to the underwriter. The offering closes around October 1, 2021, with shares expected to trade on Nasdaq from September 29, 2021. Proceeds will be used for working capital and general corporate purposes.
- Gross proceeds of approximately $45 million will support working capital.
- The underwriter has a 30-day option for additional shares and warrants.
- The public offering may lead to shareholder dilution.
- The success of the offering is subject to customary closing conditions.
The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-258299) previously filed with the
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.
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For more information, visit: www.mawsoninc.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Mawson cautions that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Mawson’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Forward-looking statements include those relating to the public offering of Mawson’s securities, including as to the completion of the public offering described above and the possibility that the common stock may not begin trading on Nasdaq, all of which may be affected by, among others, delays in satisfying or failure to satisfy closing conditions related to the public offering and adverse changes in general economic and market conditions. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the possibility that Mawson’s need and ability to raise additional capital, the development and acceptance of digital asset networks and digital assets and their protocols and software, the reduction in incentives to mine digital assets over time, the costs associated with digital asset mining, the volatility in the value and prices of cryptocurrencies, further or new regulation of digital assets and the successful expansion of electrical infrastructure at the Midland site. More detailed information about the risks and uncertainties affecting Mawson is contained under the heading “Risk Factors” included in Mawson’s Annual Report on Form 10-K filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928006153/en/
Investor Contact:
646-536-7331
brett@haydenir.com
www.haydenir.com
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