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Lucosky Brookman client NaturalShrimp Incorporated Closes $5 Million Registered Direct Offering

Lucosky Brookman LLP ( is pleased to announce that it has assisted its client NaturalShrimp Incorporated (OTC: SHMP) in connection with a $5 million registered direct offering.  The Company has entered into a securities purchase agreement with GHS Investments LLC to purchase $5 million worth of its common stock and warrants. The shares are registered on a Form S-3 Registration Statement.

Under the terms of the securities purchase agreement, the Company has agreed to sell approximately 10 million shares of its common stock, 1,000,000 commitment shares, and warrants to purchase approximately 10 million shares of common stock. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $0.75 per share. The warrants will expire 5 years from the date of issuance. The purchase price for one share of common stock is $0.55. The Company expects to receive approximately $4,925,000 in net proceeds from the Offering before exercise of the Warrants and after deducting the discounts, commissions, and other estimated offering expenses payable by the Company. The Company expects to use the net proceeds from the Offering to redeem 2,450 shares of Series D Preferred Stock in the aggregate amount of $3,658,800, for working capital and for general corporate purposes.

The shares, the accompanying warrants and commitment shares are issued in a registered direct offering, pursuant to which the shares, the warrants, the commitment shares and the shares of Common Stock issuable upon exercise of the Warrants, are registered under the Securities Act of 1933, as amended, pursuant to a prospectus supplement to the Company’s currently effective registration statement on Form S-3 (File No. 333-253953). 

In addition, the Company, entered into a share exchange agreement with a holder of the Series D Preferred Stock, whereby, at the closing of the offering, the holder has agreed to exchange an aggregate of 3,600 shares of the Company’s Series D Preferred Stock into approximately 3,739.63 shares of the Company’s Series E Convertible Preferred stock. In connection with the Exchange Agreement, the Company has filed a Certificate of Designation of Preferences of the Series E Convertible Preferred Stock with the State of Nevada.

Lucosky Brookman acted as corporate and securities legal counsel to the company.