Sacks Parente Golf, Inc. raised aggregate gross proceeds of approximately $732,000, excluding underwriting discounts and other offering expenses, from selling 366,000 shares. The company reported that the sale proceeds would go toward general corporate and working capital needs.
The transaction was priced on October 9 and is expected to close on or about October 10.
In addition, the Sacks Parente Golf has granted Aegis Capital Corp. a 45-day option to purchase additional shares of common stock of up to 15 percent of the number of shares of common stock sold in the offering solely to cover over-allotments, if any. If Aegis Capital Corp. exercises this option in full, the total gross proceeds of the offering, including over-allotments, are expected to be approximately $842,000 before deducting underwriting discounts, commissions and offering expenses.
Aegis Capital Corp. is acting as the sole book-running manager for the offering. TroyGould PC is acting as counsel to the company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.
