Lucosky Brookman LLP Successfully Represents SurgePays, Inc. in $19.8 Million Public Offering; Uplisting to NASDAQ and Reverse Stock Split
Lucosky Brookman LLP congratulates its client, SurgePays, Inc. (Nasdaq: SURG) on its successful public offering of $19.8 million of common stock and warrants. The offering allowed the company to uplist from the OTCQB to NASDAQ. SurgePays, Inc. is a blockchain fintech company building a next generation supply chain network that offers cost-efficient, wholesale goods and financial services for the underbanked. The company announced the pricing of its underwritten public offering of 4,600,000 units at a price to the public of $4.30 per unit.
Lucosky Brookman acted as corporate and securities counsel to the Company while Maxim Group LLC acted as sole book-running manager for the offering.
SurgePays, Inc. expects to receive gross proceeds of $19.78 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In connection with the offering, the Company will effectuate a reverse split of its issued and outstanding common stock at a ratio of 1-for-50.