SG Blocks Announces Full Exercise and Closing of Underwriters Over-Allotment in Public Offering
May 15 2020 - 4:05PM
Business Wire
SG Blocks, Inc. (NASDAQ:SGBX), a leading designer,
fabricator and innovator of container-based structures, today
announced the closing of the issuance of an additional 900,000
shares of common stock pursuant to the exercise in full of the
underwriters' over-allotment option in connection with its public
offering that closed on May 11, 2020. The additional shares were
sold at the offering price of $2.50 per share, generating
additional gross proceeds of $2.25 million to the Company and
bringing the total gross proceeds from the offering to $17.25
million. The shares were sold pursuant to a registration statement
on Form S-1 (No. 333-237682) previously filed with the U.S.
Securities and Exchange Commission (the “SEC”) and subsequently
declared effective on May 6, 2020.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager for the offering.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and
promoting the use of code-engineered cargo shipping containers for
safe and sustainable construction. The firm offers a product that
exceeds many standard building code requirements, and also supports
developers, architects, builders and owners in achieving greener
construction, faster execution, and stronger buildings of higher
value. Each project starts with GreenSteel™, the structural core
and shell of an SG Blocks building, and then customized to client
specifications. For more information, visit
www.sgblocks.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200515005541/en/
Media Rubenstein Public Relations Christina Levin Account
Director (212) 805-3029 clevin@rubensteinpr.com or Investor
Relations James Carbonara Hayden IR (646) 755-7412
james@haydenir.com
Brett Maas Hayden IR (646) 536-7331
brett@haydenir.com
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