Minim Announces Launch of Proposed Public Offering of Common Stock
July 26 2021 - 4:13PM
InvestorsHub NewsWire
MANCHESTER, NH -- July 26, 2021 -- InvestorsHub NewsWire --
Minim, Inc. (NASDAQ:
MINM) (the “Company”) today announces the launch of the
Company’s proposed public offering of $25 million pursuant to
a registration statement filed with the Securities and Exchange
Commission (“SEC”). The Company expects to grant the underwriters a
30-day option to purchase up to an additional $3.75 million at the
public offering price less the underwriting discounts and
commissions. The proposed offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The Company intends to use the net proceeds it receives from the
offering for general corporate and working capital purposes, which
may include inventory optimization, development and marketing of
new product offerings and expansion into global markets.
B. Riley Securities is acting as the sole book-running manager
for the proposed offering.
A registration statement on Form S-1 (File No. 333-257656),
including a prospectus, which is preliminary and subject to
completion, relating to these securities has been filed with the
SEC on July 26, 2021, but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted, nor
may any portion of the purchase price be received, prior to the
time the registration statement becomes effective. This press
release shall not constitute an offer to sell, or the 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.
The offering of these securities may be made only by means of a
prospectus. Copies of the preliminary prospectus may be obtained,
when available, by contacting B. Riley Securities, Attention:
Prospectus Department, 1300 17th St. North, Ste. 1300,
Arlington, VA 22209, or by telephone at (703) 312-9580 or by email
at prospectuses@brileyfin.com.
About Minim
Minim, Inc. (NASDAQ: MINM) is the creator of
intelligent networking products that dependably connect people to
the information they need and the people they love. Headquartered
in Manchester, NH, the company delivers smart software-driven
communications products under the globally recognized Motorola
brand and ZOOM® trademark. Minim end users benefit from a
personalized and secure WiFi experience, leading to happy and safe
homes where things just work.
MOTOROLA and the Stylized M Logo are trademarks or
registered trademarks of Motorola Trademark Holdings, LLC and are
used under license.
Media Contact:
Michele Clarke at (203) 912-0560
or michele.clarke@minim.com
Investor Relations Contact:
James Carbonara, Hayden IR at (646) 755-7412
or james@haydenir.com
Forward-Looking Statements
This press release contains “forward-looking statements”,
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements relate to Minim’s plans, expectations,
and intentions. Actual results may be materially different from
expectations as a result of known and unknown risks, including:
risks associated with Minim’s potential inability to realize
intended benefits of the merger; the potential increase in tariffs
on the company’s imports; potential difficulties and supply
interruptions from moving the manufacturing of most of the
company’s products to Vietnam; risks relating to global
semiconductor shortages; potential changes in NAFTA; the potential
need for additional funding which Minim may be unable to obtain;
declining demand for certain of Minim’s products; delays,
unanticipated costs, interruptions or other uncertainties
associated with Minim’s production and shipping; Minim’s reliance
on several key outsourcing partners; uncertainty of key customers’
plans and orders; risks relating to product certifications; Minim’s
dependence on key employees; uncertainty of new product
development, including certification and overall project delays,
budget overruns; the risk that newly introduced products may
contain undetected errors or defects or otherwise not perform as
anticipated; costs and senior management distractions due to patent
related matters; risks from a material weakness in our internal
control over financial reporting; the impact of the COVID-19
pandemic; and other risks set forth in Minim’s filings with the
Securities and Exchange Commission. Minim cautions readers not to
place undue reliance upon any such forward-looking statements,
which speak only as of the date made. Minim expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any such statements to reflect any change in Minim’s
expectations or any change in events, conditions or circumstance on
which any such statement is based.
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