ANDOVER, Mass., July 16, 2021 /PRNewswire/ -- Byrna Technologies
Inc. ("Byrna" or "the Company") (NASDAQ: BYRN) (CSE: BYRN), a
leading provider of non-lethal personal security solutions, has
announced the pricing of an upsized underwritten public offering of
2,500,000 common shares, at a public offering price of $21.00 per share, for total gross proceeds of
approximately $52.5 million, before
deducting underwriting discounts and commissions and offering
expenses. The offering was upsized from the previously announced
offering size of 2,250,000 common shares. In addition, Byrna has
granted the underwriters a 30-day option to purchase up to 375,000
additional shares of common stock at the public offering price less
underwriting discounts and commissions. Byrna intends to use
the net proceeds from this offering for working capital and other
general corporate purposes.
Raymond James & Associates,
Inc. is acting as lead book-running manager for the offering. B.
Riley Securities, Inc. is acting as book-running manager and
Ladenburg Thalmann & Co. Inc. is acting as co-manager for the
offering.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained from Raymond James & Associates, Inc., 880
Carillon Parkway, St. Petersburg,
FL 33716, Attention: Equity Syndicate, (800) 248-8863,
prospectus@raymondjames.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. 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.
About Byrna Technologies Inc.
Byrna is an emerging
non-lethal technology company, specializing in the development and
manufacture of innovative less lethal equipment and munitions. For
more information on the Company, please visit the corporate website
here or the Company's investor relations site here. The Company is
the manufacturer of the Byrna®HD personal security
device, which looks to be the leading choice in the consumer and
private security markets for non-lethal home protection, personal
safety, and security.
Forward Looking Information
This news release contains "forward-looking statements" within
the meaning of the U.S. and Canadian securities laws. All
statements contained in this news release, other than statements of
current and historical fact, are forward-looking. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "projects", "intends",
"anticipates" and "believes" and statements that certain actions,
events or results "may", "could", "would", "should", "might",
"occur" or "be achieved" or "will be taken." Forward-looking
statements include descriptions of currently occurring matters
which may continue in the future. Forward-looking statements in
this news release include but are not limited to Byrna's
expectations regarding the completion of the proposed public
offering and the anticipated net proceeds therefrom, the timing,
price and size of the offering, anticipated underwriters and their
roles, and planned uses of proceeds. Forward-looking statements are
based on, among other things, opinions, assumptions, estimates and
analyses that, while considered reasonable by Byrna at the date the
forward-looking information is provided, inherently are subject to
significant risks, uncertainties, contingencies and other factors
that may cause actual results and events to be materially different
from those expressed or implied.
Any number of risk factors could affect anticipated events and
outcomes and cause them to differ materially from those expressed
or implied by the forward-looking statements in this news release,
including events that require amendment of the offering documents
and affect the anticipated timing of the offering, comments or
actions by the U.S. Securities Exchange Commission (SEC), the
Ontario Securities Commission, the Canadian Stock Exchange or
Nasdaq, changes in the Company's governance or business or the
market for our securities or the economy or securities markets
generally and other factors that could affect the timing,
size or pricing of the offering or the market for our securities
and changes to our business, revenues, needs, business plans,
competitive conditions, credit terms, and availability of capital
that could impact our capital needs and intended use of proceeds.
There can be no assurance that Byrna will be able to complete the
public offering on the anticipated terms, or at all. The order in
which these factors appear should not be construed to indicate
their relative importance or priority. We caution that all risks
cannot be anticipated and any list of risks may not be exhaustive,
accordingly, any forward-looking statements contained herein should
not be relied upon as a prediction of actual results.
Investors should carefully consider these and other relevant
factors, including those risk factors in the "Risk Factors" section
of the prospectus related to the proposed offering to be filed with
the SEC, and risk factors in Part I, Item 1A in our most
recent Form 10-K and subsequent filings with the SEC, and
should not place undue reliance on forward-looking information. The
Company assumes no obligation to update or revise any
forward-looking information, except as required by applicable
law.
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SOURCE Byrna Technologies Inc.