VERB Technology Company, Inc. Announces $15 Million Registered Direct Offering Without Warrants
March 11 2021 - 9:08AM
VERB Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the
“Company”), a rapidly emerging market leader in business-focused
interactive video sales and marketing tools, including livestream
ecommerce, CRM, and content management applications, today
announced it has entered into a securities purchase agreement
with institutional investors for the purchase and sale of 9,375,000
shares of its common stock at a purchase price of $1.60 per share
in a registered direct offering. No warrants will be issued in
connection with the transaction. The closing of the offering is
expected to occur on or about March 15, 2021, subject to the
satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the offering. This offering is
being made pursuant to a shelf registration statement on Form S-3
(File No. 333-252167) previously filed with and declared effective
by the U.S. Securities and Exchange Commission (the “SEC”). A
prospectus supplement describing the terms of the proposed offering
will be filed with the SEC and will be available on the SEC’s
website located at http://www.sec.gov. Electronic copies of the
prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
Before investing in this offering, interested
parties should carefully review the prospectus supplement and the
accompanying prospectus, as well as the other documents that the
Company has filed with the SEC that are incorporated by reference
in the prospectus supplement and the accompanying prospectus, which
provide more information about the Company and the offering.
This press release is for informational purposes
only and shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, 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 VERB
VERB Technology Company, Inc. (Nasdaq: VERB) is
rapidly emerging as the market leader in business-focused
interactive video sales and marketing tools, including livestream
ecommerce, CRM, and content management applications. With offices
in California and Utah, USA, VERB provides next-generation software
applications to sales-based organizations in more than 60 countries
and 48 languages. The Company’s proprietary, patented, and
patent-pending technology platform produces real-time, measurable
results, with customers reporting greater than 600% increases in
conversion rates. VERB’s software-as-a-service (SaaS) products are
cloud-based, accessible on all mobile and desktop devices, and are
available by subscription for individual and enterprise users. The
Company’s technology is also integrated into popular ERP, CRM, and
marketing platforms. For more information, please visit
www.verb.tech.
Forward Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
about the timing of the closing of the offering. These
forward-looking statements relate to future events and involve
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from any results, performance or achievements expressed
or implied by the forward-looking statements. Some of these risks,
uncertainties and other factors are described in the Company’s
filings with the SEC, including its Annual Reports on Form 10-K and
Quarterly Reports Form 10-Q, as well as in the registration
statement, prospectus supplement and prospectus relating to the
offering. The forward-looking statements in this press release are
based on information available to us as of the date hereof. Except
as required by law, we undertake no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events or otherwise.
Investor Relations Contact:888.504.9929investors@verb.tech
Media Contact:855.250.2300, ext.107info@verb.tech
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