On July 27, 2022, ToughBuilt Industries, Inc. (the “
”) consummated the closing of a private placement (the “
”), pursuant to the terms and conditions of the Securities Purchase Agreement, dated July 25, 2022 (the “
”), by and among the Company and certain purchasers named on the signature pages thereto (the “
”). At the closing of the Private Placement, the Company issued (i) 700,000 shares of common stock (the “
”); (ii) pre-funded warrants (the “
”) to purchase an aggregate of 3,300,000 shares of common stock, (iii) Series A Preferred Investment Options to purchase an aggregate of 4,000,000 shares of common stock (the “
Preferred Investment Options
”
)
; and (iv) Series B Preferred Investment Options to purchase an aggregate of 4,000,000 shares of common stock (the “
Preferred Investment Options
”, and, collectively with the Shares, the Pre-Funded Warrants, and the Series A Preferred Investment Options, the “
”). The purchase price of each Share and associated Series A Preferred Investment Option and Series B Preferred Investment Option was $5.00 and the purchase price of each Pre-Funded Warrant and associated and associated Series A Preferred Investment Option and Series B Preferred Investment Option was $4.9999. The aggregate gross proceeds to the Company from the Private Placement were approximately $20 million, before deducting placement agent fees and other offering expenses. H.C. Wainwright & Co., LLC (the “
” or “
”) acted as the exclusive placement agent for the Private Placement.