MONTVALE, N.J., Nov. 4, 2020 /PRNewswire/ -- MICT, Inc.
(Nasdaq: MICT) (the "Company"), today announced that it
closed its previously announced registered direct offering of
10,000,000 shares of common stock and 8,000,000 common stock
purchase warrants at a combined purchase price of $2.50. The gross proceeds to MICT from this
offering are $25,000,000, before
deducting placement agent fees and other estimated offering
expenses. The common stock purchase warrants are exercisable for
five years from the initial exercise date at an exercise price of
$3.12 per share.
A.G.P./Alliance Global Partners acted as sole placement agent
for the offering.
This offering was made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-248602) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
that was declared effective by the SEC on September 14, 2020. A prospectus supplement and
accompanying prospectus describing the terms of the offering have
been filed with the SEC and are available on the SEC's website
located at http://www.sec.gov. Electronic copies of the prospectus
supplement may be obtained from A.G.P./Alliance Global Partners,
590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at
212-624-2060 or email: firstname.lastname@example.org.
This press release does 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 the registration or
qualification under the securities laws of any such state or
MICT, Inc. (NasdaqCM: MICT) operates through its
subsidiaries, GFH Intermediate Holdings Ltd. ("GFHI") and
Micronet Ltd. ("Micronet"). GFHI's versatile proprietary trading
technology platform is designed to serve a large number of high
growth sectors in the global fintech space. Primary areas of focus
include online brokerage for equities trading and wealth management
services and sales of insurance products in several high-growth
foreign markets including Asia where GFH owns a
substantial propriety database of users. Micronet operates in the
growing telematics and commercial Mobile Resource Management (MRM)
market, mainly in the United States and Europe.
Micronet designs, develops, manufactures and sells mobile computing
solutions that provide fleet operators and field workforces with
computing solutions in challenging work environments.
This press release contains express or implied forward-looking
statements within the Private Securities Litigation Reform Act of
1995 and other U.S. Federal securities laws. These
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Such
forward-looking statements and their implications involve known and
unknown risks, uncertainties and other factors that may cause
actual results or performance to differ materially from those
projected. The forward-looking statements contained in this press
release are subject to other risks and uncertainties, including
those discussed in the "Risk Factors" section and elsewhere in the
Company's annual report on Form 10-K for the year
ended December 31, 2019 and in subsequent filings with
the Securities and Exchange Commission. Except as otherwise
required by law, the Company is under no obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
SOURCE MICT, Inc.