Lucosky Brookman Successfully Represents Connexa Sports Technologies Inc. in $4.2 Offering and NASDAQ Uplisting
Lucosky Brookman LLP congratulates its client, Connexa Sports Technologies Inc. (NASDAQ: CNXA), on offering of $4.2 million of its common stock and uplisting onto the NASDAQ Capital Market.
In conjunction with the NASDAQ listing, Connexa sold 1,048,750 million shares of its common stock at $4.00 per share for gross proceeds of $4.2 million, before deducting underwriting discounts and commissions and other offering expenses. Connexa has granted the underwriters a 45-day option to purchase up to 150,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions to cover overallotments. The shares sold consisted of one million primary shares of common stock and 48,750 shares from the underwriters’ partial exercise of their overallotment option. Connexa plans to use the funds raised for working capital, debt reduction and general corporate purposes. The offering closed on June 17, 2022.
The Company's common stock began trading on the NASDAQ Capital Market on June 16, 2022, under the symbol "CNXA".
“Uplisting to the Nasdaq is the next step in our evolution as a public company, particularly after our acquisitions of PlaySight, Gameface.AI and Foundation Tennis,” said Mike Ballardie, Connexa CEO. “For us to come this far after only beginning operations two years ago is a tremendous feat and a testament to our dedicated employees, partners, products and customers that have enabled this milestone.”
Lucosky Brookman LLP acted as counsel to the Company.