VirTra Announces Pricing of $18.0 Million Registered Direct Offering
March 31 2021 - 1:00AM
VirTra, Inc. (NASDAQ: VTSI), a global provider of
training simulators for the law enforcement, military, educational,
and commercial markets, today announced that it has entered into a
securities purchase agreement with certain institutional investors,
to purchase 3 million shares of common stock at a price of $6.00
per share, which is a premium to market based on the Nasdaq
“Minimum Price” rule. The total gross proceeds of the offering are
$18 million, before deducting the placement agents’ fees and other
estimated offering expenses.
Roth Capital Partners acted as the lead
placement agent in this offering. Lake Street Capital Markets acted
as co-placement agent for the offering. Maxim Group LLC acted as a
financial advisor to the Company in connection with the
offering.
The registered direct offering is expected to
close on or about April 5, 2021, subject to customary closing
conditions. The Company intends to use the net proceeds from the
offering for general corporate purposes, including general working
capital.
A shelf registration statement on Form S-3 (File
No. 333-238624) relating to the shares of common stock to be issued
in the registered direct offering was previously filed with the
Securities and Exchange Commission (the “SEC”) on May 22, 2020 and
declared effective by the SEC on June 2, 2020. The offering of the
shares will be made only by means of a prospectus supplement that
forms a part of the registration statement. A prospectus
supplement and the accompanying prospectus relating to and
describing the terms of the registered direct offering will be
filed with the SEC and will be available on the SEC’s website at
www.sec.gov. When available, copies of the prospectus supplement
and the accompanying prospectus relating to the registered direct
offering may also be obtained by contacting Roth Capital Partners,
LLC, 888 San Clemente Drive, Newport Beach, California 92660, by
calling (800) 678-9147 or by e-mail at rothecm@roth.com.
This press release does 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 jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such jurisdiction.About VirTra
VirTra (NASDAQ: VTSI) is a global provider of
judgmental use of force training simulators, firearms training
simulators and driving simulators for the law enforcement,
military, educational and commercial markets. The company’s
patented technologies, software, and scenarios provide intense
training for de-escalation, judgmental use-of-force, marksmanship
and related training that mimics real-world situations. VirTra’s
mission is to save and improve lives worldwide through practical
and highly effective virtual reality and simulator technology.
Learn more about the company
at www.VirTra.com.Forward-Looking
Statements
The information in this discussion contains
forward-looking statements and information 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, which are
subject to the “safe harbor” created by those sections. The words
“anticipates,” “believes,” “estimates,” “expects,” “intends,”
“may,” “plans,” “projects,” “will,” “should,” “could,” “predicts,”
“potential,” “continue,” “would” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. We may
not actually achieve the plans, intentions or expectations
disclosed in our forward-looking statements and you should not
place undue reliance on our forward-looking statements. Actual
results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements that we make. The forward-looking statements are
applicable only as of the date on which they are made, and we do
not assume any obligation to update any forward-looking statements.
All forward-looking statements in this document are made based on
our current expectations, forecasts, estimates and assumptions, and
involve risks, uncertainties and other factors that could cause
results or events to differ materially from those expressed in the
forward-looking statements. In evaluating these statements, you
should specifically consider various factors, uncertainties and
risks that could affect our future results or operations. These
factors, uncertainties and risks may cause our actual results to
differ materially from any forward-looking statement set forth in
the reports we file with or furnish to the Securities and Exchange
Commission (the “SEC”). You should carefully consider these risk
and uncertainties described and other information contained in the
reports we file with or furnish to the SEC before making any
investment decision with respect to our securities. All
forward-looking statements attributable to us or persons acting on
our behalf are expressly qualified in their entirety by this
cautionary statement.
Investor Relations ContactMatt Glover or
Charlie SchumacherVTSI@gatewayir.com949-574-3860
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