TOUGHBUILT ANNOUNCES THAT ITS CLASS A UNITS WILL BEGIN TRADING SEPARATELY AS COMMON STOCK AND SERIES A WARRANTS EFFECTIVE NOV...
November 21 2019 - 4:45PM
ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT;
TBLTU; TBLTW), a leading designer, manufacturer and
distributor of innovative tools and accessories for the building
industry, today announced that its Class A Units will begin trading
separately on the Nasdaq Capital Market in their components of one
share of common stock and one Series A Warrant per Class A Unit as
of November 22, 2019.
In its prospectus, dated November 9, 2018,
Toughbuilt Industries, Inc. (the “Company”) stated with regard to
its Class A Units: “The components of the Units will begin to trade
separately on the first trading day following the one year
anniversary of the date of this prospectus…. In no event will
separate trading of the securities comprising the Units commence
until we issue a press release announcing when such separate
trading will begin.”
About ToughBuilt Industries, Inc.
ToughBuilt is a groundbreaking designer,
manufacturer and distributor of innovative tools and accessories to
the building industry. We market and distribute various home
improvement and construction product lines for both the
professional and do-it-yourself markets under the TOUGHBUILT® brand
name, within the global multibillion dollar per year tool market
industry. All of our products are designed by our in-house design
team. Since launching product sales in 2013, we have experienced
significant annual sales growth. Our current product line
includes three major categories, with several additional categories
in various stages of development, consisting of Soft Goods &
Kneepads and Sawhorses & Work Products. Our mission is to
provide products to the building and home improvement communities
that are innovative, of superior quality derived in part from
enlightened creativity for our end users while enhancing
performance, improving well-being and building high brand
loyalty. Additional information about the Company is
available at: https://www.toughbuilt.com/.
Forward-Looking Statements
This press release contains “forward-looking
statements.” Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i)
market acceptance of our existing and new products, (ii) negative
clinical trial results or lengthy product delays in key markets,
(iii) an inability to secure regulatory approvals for the sale of
our products, (iv) intense competition in the medical device
industry from much larger, multinational companies, (v) product
liability claims, (vi) product malfunctions, (vii) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (viii) insufficient or inadequate reimbursement by
governmental and other third party payers for our products, (ix)
our efforts to successfully obtain and maintain intellectual
property protection covering our products, which may not be
successful, (x) legislative or regulatory reform of the healthcare
system in both the U.S. and foreign jurisdictions, (xi) our
reliance on single suppliers for certain product components, (xii)
the fact that we will need to raise additional capital to meet our
business requirements in the future and that such capital raising
may be costly, dilutive or difficult to obtain and (xiii) the fact
that we conduct business in multiple foreign jurisdictions,
exposing us to foreign currency exchange rate fluctuations,
logistical and communications challenges, burdens and costs of
compliance with foreign laws and political and economic instability
in each jurisdiction. More detailed information about the Company
and the risk factors that may affect the realization of forward
looking statements is set forth in the Company’s filings with the
Securities and Exchange Commission (SEC), including the Company’s
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Investors and security holders are urged to read these documents
free of charge on the SEC’s web site at http://www.sec.gov. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future
events or otherwise.
Investor Relations Contact:
Amato and Partners, LLC Investor Relations Counsel
admin@amatoandpartners.com
Source: ToughBuilt Industries, Inc.
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