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Lucosky Brookman is a leader in the representation of small and micro-cap companies. The Firm has led it clients through numerous capital raise transaction and over a dozen uplisting and initial public offering transactions.  Access the latest news about Lucosky Brookman, our clients’ business transactions and industry updates here. 

Lucosky Brookman LLP successfully represents Joseph Gunnar & Co. LLC in $8.88 Million Private Placement Offering of Sysorex, Inc. securities

Lucosky Brookman LLP is pleased to share that on July 7, 2021 its client, Joseph Gunnar & Co. LLC, successfully served as underwriter in connection with the private placement of $8.88 Million of securities of Sysorex, Inc. (OTCQB: SYSX), a U.S.-based, publicly-traded Ethereum mining and blockchain technologies company.  In connection with the offering, accredited investors purchased 12.5% Original Issue Discount Senior Secured Convertible Debentures in an aggregate principal amount of $8,880,000 and Warrants to purchase up to 3,534,751 shares of the Company’s common stock. 

Lucosky Brookman acted as corporate and securities counsel to Joseph Gunnar & Co. LLC. 

Sysorex, Inc. intends to deploy these net proceeds to increase its data center capacity, to remit the outstanding amounts due to CoreWeave, Inc. pursuant to existing contractual obligations, and to further its business objectives in the expansion of its Ethereum mining business and implementation of its Ethereum 2.0 staking strategies. The Company further plans to explore decentralized finance (DeFi) and Non-fungible token (NFT) Ethereum Blockchain opportunities. In addition, the Company expects to settle all remaining debt and legal and audit expenses incurred related to the triangular reverse merger completed on April 14, 2021. The private placement will also allow the Company to accelerate its plans to aggregate mined Ether on its balance sheet since the Company will not need to sell Ether to satisfy operating expenses during the balance of the fiscal year.