Towerstream Announces the Closing of its Public Offering
September 22 2016 - 9:00AM
Towerstream Corporation (Nasdaq:TWER), a leading Fixed-Wireless
Fiber Alternative company, announces the closing of its public
offering of common stock for a total of approximately $4 million in
gross proceeds to the Company. Sold in the offering were
shares of the Company’s common stock at a public offering price of
$1.35 per share of common stock. The Company has granted the
underwriter an option for a period of up to 45 days from September
16, 2016 to purchase up to an aggregate of 444,444 shares of the
Company's common stock to cover overallotments, if any.
The total gross proceeds of the public offering
were before the underwriter’s discount and expenses. Laidlaw
& Company (UK) Ltd. acted as the sole book-running manager for
this offering.
A registration statement relating to these
securities was previously filed on Form S-1 (333-212995) with the
Securities and Exchange Commission (the “SEC”), and was declared
effective by the SEC on September 16, 2016. A final prospectus
relating to the offering may be obtained on the SEC’s website
located at www.sec.gov, and electronic copies of the final
prospectus may also be obtained from Laidlaw & Company (UK)
Ltd., Attention: Syndicate Department, 546 Fifth Avenue, New York,
NY 10036, by telephone at (212) 953-4900 or by email at
syndicate@laidlawltd.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Towerstream
Corporation
Towerstream Corporation (NASDAQ:TWER) is a
leading Fixed-Wireless Fiber Alternative company delivering
high-speed Internet access to businesses. The Company offers
broadband services in 12 urban markets including New York City,
Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay
area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno,
and the greater Providence area.
Forward Looking Statements:
This press release contains "forward-looking
statements" regarding matters that are not historical facts,
including statements relating to the Offering. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Words such as "anticipates," "plans,"
"expects," "intends," "will," "potential," "hope" and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon current
expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the section entitled "Risk Factors" in its annual
report on Form 10-K for the fiscal year ended December 31, 2015, as
amended and supplemented from time to time and the Company's
Quarterly Reports on Form 10-Q and other filings submitted by the
Company to the SEC, copies of which may be obtained from the SEC's
website at www.sec.gov. The parties do not undertake any obligation
to update forward-looking statements contained in this press
release.
INVESTOR CONTACT:
Terry McGovern
Vision Advisors
415-902-3001
mcgovern@visionadvisors.net
Towerstream (CE) (USOTC:TWER)
Historical Stock Chart
From Mar 2024 to Apr 2024
Towerstream (CE) (USOTC:TWER)
Historical Stock Chart
From Apr 2023 to Apr 2024