Recruiter.com Announces Closing of Registered Direct Offering
Recruiter.com (NASDAQ:RCRT)(NASDAQ:RCRTW) has completed its registered direct offering, closing the sale of 481,000 shares of common stock at $1.00 per share.
The offering, initially expected at 400,000 shares, was expanded due to investor demand, resulting in $481,000 in gross proceeds. There were no placement agent fees or other expenses associated with the offering.
The proceeds will be used for working capital and general corporate purposes. The offering was made under a 'shelf' registration statement on Form S-3, declared effective by the SEC on September 30, 2022.
- Successful completion of the registered direct offering.
- Increased investor demand led to an expansion from 400,000 to 481,000 shares.
- Raised $481,000 in gross proceeds.
- No placement agent fees or other offering expenses.
- Proceeds allocated for working capital and general corporate purposes.
- Selling price of $1.00 per share could indicate undervaluation concerns.
- Potential shareholder dilution with the issuance of new shares.
NEW YORK, NY / ACCESSWIRE / June 7, 2024 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com") today announced the closing of its previously announced registered direct offering for the sale and issuance of 481,000 shares of the Company's common stock, to a small group of accredited investors at per share purchase price of
The completion of the transaction resulted in aggregate gross proceeds to the Company of
The shares of common stock in the registered direct were offered pursuant to a "shelf" registration statement on Form S-3 (File No. 333-267470) initially filed with the Securities and Exchange Commission (the "SEC") on September 16, 2022, and declared effective by the SEC on September 30, 2022. The offering of the common stock in the registered direct offering was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting the Company at 123 Farmington Avenue, Suite 252, Bristol, CT 06010, or by telephone at (855) 931-1500.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Recruiter.com Group, Inc.
Recruiter.com is an on-demand recruiting platform providing flexible talent acquisition solutions that scale from startups to the Fortune 100. With an on-tap network of thousands of recruiting professionals and recruitment marketing automation, Recruiter.com helps businesses solve today's complex hiring challenges.
For investor information, visit https://investors.recruiter.com.
Please follow social media channels for additional updates:
LinkedIn Recruiter Network Group: https://www.linkedin.com/groups/42370/
LinkedIn Company Page: https://www.linkedin.com/company/1240434
Twitter Company Page: https://twitter.com/recruiterdotcom
Facebook Company Page: https://www.facebook.com/RecruiterDotCom
Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements, and terms such as "anticipate," "expect," "believe," "may," "will," "should" or other comparable terms, are based largely on Recruiter.com's expectations and are subject to a number of risks and uncertainties, certain of which are beyond Recruiter.com's control. These statements include, among others, statements regarding the completion of the offering, the anticipated proceeds from the offering and the use of such proceeds. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers' requirements, and its ability to protect its intellectual property. Recruiter.com encourages you to review other factors that may affect its future results in its registration statement and in its other filings with the Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will in fact occur.
Company Contact:
Corporate Communications
investors@recruiter.com
SOURCE: Recruiter.com Group, Inc.
View the original press release on accesswire.com
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