Maris-Tech Ltd. Announces Pricing of $15.5 Million Initial Public Offering
February 01 2022 - 10:53PM
Maris-Tech Ltd. (the “Company”), a B2B provider of intelligent
video transmission technology, today announced the pricing of its
initial public offering of 3,700,477 common units and pre-funded
units. Each common unit is being offered at a public offering price
per common unit of $4.20 and consists of one ordinary share and one
warrant to purchase one ordinary share, with an initial exercise
price of $5.25 per share. Each pre-funded unit is offered at a
public offering price per pre-funded unit of $4.199 and consists of
one pre-funded warrant to purchase one ordinary share, with an
initial exercise price of $0.001 per share, and one warrant to
purchase one ordinary share, with an initial exercise price of
$5.25 per share. The gross proceeds of the offering are expected to
be approximately $15.5 million before deducting underwriting
discounts and commissions and offering expenses. The offering is
expected to close on February 4, 2022, subject to satisfaction of
customary closing conditions.
In addition, the Company has granted Aegis
Capital Corp. (“Aegis”) a 45-day option to purchase up to such
number of additional ordinary shares and/or pre-funded warrants,
and/or common warrants, or any combination thereof, equal to 15% of
number of units sold in the offering solely to cover
over-allotments, if any. The purchase price to be paid per
additional ordinary share or pre-funded warrant will be equal to
the public offering price of one common unit or pre-funded unit (in
each case, less $0.001 allocated to the warrants), as applicable,
less the underwriting discount. The purchase price to be paid per
additional warrant will be $0.001. If Aegis exercises the option to
purchase only such warrants, additional proceeds will be nominal.
If Aegis exercises the option in full for ordinary shares and/or
pre-funded warrants, the total gross proceeds of the offering
including overallotment are expected to be approximately $17.8
million before deducting underwriting discounts and commissions and
offering expenses.
The ordinary shares and common warrants are
expected to begin trading on The Nasdaq Capital Market on February
2, 2022, under the symbols “MTEK” and “MTEKW”, respectively.
Aegis Capital Corp. is acting as the
sole book-running manager for the offering.
A registration statement on Form F-1 (No.
333-260670) relating to the securities being sold in this offering
was declared effective by the Securities and Exchange Commission
(the "SEC") on February 1, 2022. The offering is being made only by
means of a prospectus. Copies of the final prospectus may be
obtained, when available, on the SEC's website, www.sec.gov, or by
contacting Aegis Capital Corp., Attention: Syndicate Department,
810 7th Avenue, 18th Floor, New York, NY 10019, by email at
syndicate@aegiscap.com, or by telephone at (212) 813-1010.
This press release shall not constitute an offer
to sell, or a 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 Maris-Tech Ltd.
Maris-Tech is a B2B provider of intelligent
video transmission technology, founded by veterans of the Israel
technology sector with extensive electrical engineering and imaging
experience. Our products are designed to meet the growing demands
of commercial and tactical applications, delivering
high-performance, compact, low power and low latency solutions to
companies worldwide, including leading electro-optical payload, RF
datalink and unmanned platform manufacturers as well as defense,
HLS, and communication companies. For more information, visit
https://www.maris-tech.com/.
Forward-Looking Statement
Disclaimer
This press release contains “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, that are intended to be covered by the "safe
harbor" created by those sections. Forward-looking statements,
which are based on certain assumptions and describe our future
plans, strategies and expectations, can generally be identified by
the use of forward-looking terms such as "believe," "expect,"
"may," "should," "could," "seek," "intend," "plan," "goal,"
"estimate," "anticipate" or other comparable terms. All statements
other than statements of historical facts included in this press
release regarding our strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to close the
offering of the securities; our ability to successfully market our
products and services; the acceptance of our products and services
by customers; our continued ability to pay operating costs and
ability to meet demand for our products and services; the amount
and nature of competition from other security and telecom products
and services; the effects of changes in the cybersecurity and
telecom markets; our ability to successfully develop new products
and services; our success establishing and maintaining
collaborative, strategic alliance agreements, licensing and
supplier arrangements; our ability to comply with applicable
regulations; and the other risks and uncertainties described in the
Registration Statement and our other filings with the SEC. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Investor Relations:Dave Gentry, CEORedChip
Companiesdave@redchip.com1-800-733-2447
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