Level Brands, Inc. Announces Closing of $6.9 Million Public Offering
October 02 2018 - 10:55AM
Business Wire
Level Brands, Inc. (NYSE American: LEVB) (the “Company”), an
innovative marketing and licensing company that provides bold,
unconventional, and socially responsible branding for leading
businesses, today announced the closing of its previously announced
underwritten public offering for total gross proceeds of
$6,899,998, before deducting underwriting discounts, commissions
and other offering expenses payable by the Company. The Company
sold an aggregate of 1,971,428 shares of its common stock at a
purchase price of $3.50 per share in this offering, which included
the full exercise of the over-allotment option of 257,142 shares of
common stock. The Company intends to use the net proceeds from the
offering for brand development and expansion, acquisitions and
general working capital.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager for the offering.
The shares described above were offered by Level Brands, Inc.
pursuant to a registration statement on Form S-1 (Registration No.
333-227529) previously filed with the U.S. Securities and Exchange
Commission (“SEC”) and declared effective on September 28, 2018. A
final prospectus relating to this offering was filed with the SEC
on September 28, 2018. The offering is being made only by means of
a prospectus. Copies of the prospectus relating to the offering may
be obtained by contacting ThinkEquity, 17 State Street, 22nd Floor,
New York, NY 10004, telephone (646) 968-9355, email:
prospectus@think-equity.com. Investors may also obtain these
documents at no cost by visiting the SEC's website at
http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 Level Brands, Inc. (www.LevelBrands.com)
Level Brands is an innovative marketing and licensing company
that provides bold, unconventional, and socially responsible
branding for leading businesses. The focus of LEVB is licensing and
corporate brand management for consumer products, including art,
beauty, fashion, the beverage space, health and wellness, and
entertainment. License brand marketing is at the core of the Level
Brands businesses: kathy ireland® Health & Wellness; Ireland
Men One (I’M1), a men’s lifestyle brand established to capitalize
on potentially lucrative licensing and co-branding opportunities
with brands focused on millennials; and Encore Endeavor One (EE1),
a provider of corporate brand-management services and producer of
experiential entertainment events and products across multiple
platforms.
Forward-Looking Statements
This press release contains certain forward-looking statements
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ''should,'' ''may,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and
''proposes'' and include the statement regarding the intended use
of proceeds. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, our material dependence on our
relationship with kathy ireland® Worldwide, our limited operating
history, our ability to expand our business and significantly
increase our revenues and our ability to report profitable
operations in future periods, among others. You are urged to
carefully review and consider any cautionary statements and other
disclosures, including the statements made under the heading “Risk
Factors” in Level Brands, Inc.'s filings with the SEC, including
the registration statement on Form S-1 (Registration No.
333-227529), the Annual Report on Form 10-K for the fiscal year
ended September 30, 2017 as filed with the SEC on December 26, 2017
and our other filings with the SEC. All forward-looking statements
involve significant risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements, many of which are generally outside the control of
Level Brands and are difficult to predict. Level Brands, Inc. does
not undertake any duty to update any forward-looking statements
except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181002005735/en/
Level Brands, Inc.Mark S. Elliott, 704-362-6345Chief Financial
Officer and Chief Operating Officer
Level Brands, Inc. (AMEX:LEVB)
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