SeqLL Inc. Announces Closing of Underwriters’ Option to Purchase Additional Shares of Common Stock in Connection with its Initial Public Offering

Rhea-AI Summary

SeqLL Inc. (NASDAQ:SQL; SQLLW) has successfully closed the sale of an additional 189,000 shares of common stock at $4.24 each, raising approximately $801,360. This comes after the company’s initial public offering (IPO) concluded on August 31, 2021, with total gross proceeds now reaching around $13,810,950. Maxim Group LLC managed the offering, and further details can be found in the prospectus filed with the SEC. SeqLL aims to use its True Single Molecule Sequencing technology to enhance research in various omics fields.

Positive

• Total IPO gross proceeds increased to approximately $13,810,950.
• The company aims to advance research with True Single Molecule Sequencing technology.

Negative

• None.

WOBURN, Mass., Sept. 29, 2021 (GLOBE NEWSWIRE) -- SeqLL Inc. (“SeqLL” or the “Company”) (NASDAQ:SQL; SQLLW), a development-stage life sciences instrumentation and research services company engaged in the development of scientific assets and novel intellectual property across multiple “omics” fields, today announced the closing of the sale of an additional 189,000 shares of common stock at the initial public offering price of $4.24 per share, pursuant to the partial exercise of the underwriters’ over-allotment option, in connection with its initial public offering that closed on August 31, 2021, resulting in gross proceeds of approximately $801,360. After giving effect to the exercise of the over-allotment option, the total gross proceeds of the initial public offering increased to approximately $13,810,950.

Maxim Group LLC acted as the sole book-running manager in connection with the offering.

A registration statement on Form S-1 (File Nos. 333-254886 and 333-259097) was filed with the Securities and Exchange Commission (“SEC”), which became effective on August 26, 2021. A final prospectus relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. The offering was made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745. Before investing in the Company’s securities, interested parties should read in its entirety the registration statement that the Company has filed with the SEC, which provides additional information about the Company and this offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SeqLL:
SeqLL Inc. (“SeqLL”) is a development-stage life sciences instrumentation and research services company engaged in the development of scientific assets and novel intellectual property across multiple “omics” fields. The Company intends to leverage their expertise with True Single Molecule Sequencing (“tSMS®”) technology to enable researchers and clinicians to contribute major advancements to scientific research and development by accelerating one’s understanding of the molecular mechanisms of disease and fundamental biological processes.

Forward Looking Statements:

This press release contains certain forward-looking statements, including those relating to the regarding the use of proceeds and other statements that are predictive in nature. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its registration statement on Form S-1, as amended from time to time, under the caption "Risk Factors."

Contact:
John Kennedy
investors@seqll.com

FAQ

What is the total amount raised from SeqLL's IPO?

SeqLL raised approximately $13,810,950 from the IPO.

What was the price per share in SeqLL's recent stock sale?

The price per share in the recent stock sale was $4.24.

Who managed SeqLL's stock offering?

Maxim Group LLC acted as the sole book-running manager for the offering.

What technology does SeqLL focus on?

SeqLL focuses on True Single Molecule Sequencing technology to enhance scientific research.

When did SeqLL's IPO close?

SeqLL's IPO closed on August 31, 2021.