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Lucosky Brookman Represents Spartan Capital Securities, LLC in Janover Inc.'s $5.65 Million Initial Public Offering

Lucosky Brookman is proud to announce its representation of Spartan Capital Securities, LLC in Janover Inc.'s initial public offering (IPO). Janover (Nasdaq: JNVR), a B2B fintech marketplace connecting commercial property borrowers and lenders, has closed its IPO, signaling a significant milestone for the company and its investors. Janover raised approximately $5.65 million in aggregate gross proceeds, with the underwriters' option potentially adding to the total. The offering closed on July 27, 2023.

The company sold 1,412,500 shares of common stock at a public offering price of $4.00 per share. This total gross proceeds were $5.65 million before accounting for any underwriting discounts, commissions, or other offering expenses.  Additionally, the underwriters have been granted a 45-day option to purchase up to an additional 211,875 shares of common stock at the initial public offering price, allowing them to cover any over-allotments that may arise during the offering process. 

In connection with the IPO, Janover has listed its common stock on the Nasdaq Capital Market. Trading under the symbol "JNVR" commenced July 25, 2023. This listing marks a significant moment in Janover's journey as a publicly traded company, opening up new opportunities for growth, visibility, and access to capital markets.

Janover has strategically planned the allocation of net proceeds from the IPO to support its long-term goals and enhance its position within the fintech marketplace. A substantial portion of the net proceeds will be channeled towards the development of new products and the improvement of existing offerings. This investment aims to bolster the company's ability to meet the evolving needs of commercial property borrowers and lenders effectively.  Janover intends to allocate funds to expand its sales and marketing capabilities. A robust marketing strategy will enable the company to increase brand awareness, attract more users to its platform, and foster strategic partnerships within the industry.  The remaining proceeds will be utilized for general corporate purposes, including capital expenditures and working capital. These funds will play a crucial role in supporting day-to-day operations and ensuring the company's ongoing stability and growth.

Spartan Capital Securities, LLC, and R.F. Lafferty & Co., Inc. served as joint book-running managers.  Lucosky Brookman had the privilege of representing Spartan Capital Securities, LLC.