Verb Technology Company, Inc. Closes $7.2 Million Underwritten Public Offering of Common Stock
January 26 2023 - 09:38AM
GlobeNewswire Inc.
Verb Technology Company, Inc. (NASDAQ: VERB) ("VERB" or the
"Company"), the leader in interactive video-based sales-enablement
applications, including shoppable livestream video, announced the
closing of an underwritten public offering with gross proceeds to
the Company expected to be $7.2 million, before deducting
underwriting discounts and other estimated expenses payable by the
Company. The offering consisted of 36,051,000 shares of common
stock, with no warrants (the "Offering") at a price of $0.20 per
share. The Company intends to use the net proceeds from the
Offering for general corporate purposes and repayment of debt.
Aegis Capital Corp. acted as the sole
book-running manager for the Offering.
The Offering was made pursuant to an effective
shelf registration statement on Form S-3 (No. 333-264038)
previously filed with the U.S. Securities and Exchange Commission
(the "SEC") and declared effective by the SEC on April 14, 2022. A
final prospectus supplement and accompanying prospectus
(collectively, the "Prospectus") describing the terms of the
proposed offering was filed with the SEC and is available on the
SEC's website located at http://www.sec.gov. Electronic copies of
the Prospectus may be obtained by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 1345 Avenue of the Americas, 27th
floor, New York, NY 10105, by email at syndicate@aegiscap.com, or
by telephone at (212) 813-1010.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sales of the 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 VERB
Verb Technology Company, Inc. (Nasdaq: VERB), the
market leader in interactive video-based sales applications,
transforms how businesses attract and engage customers. The
Company’s MARKET.live platform is a multi-vendor, multi-presenter,
livestream social shopping destination at the forefront of the
convergence of ecommerce and entertainment, where hundreds of
retailers, brands, creators and influencers can monetize their base
of fans and followers across social media channels. The Company’s
Software-as-a-Service, or SaaS platform, based on its proprietary
interactive video technology, is comprised of a suite of sales
enablement business software products offered on a subscription
basis. Its software applications are used by hundreds of thousands
of people in over 100 countries and in more than 48 languages.
VERB’s clients include large sales-based enterprises as well as
small business sales teams, including the sales and marketing
departments of professional sports teams. With approximately 115
employees and contractors, the Company is headquartered in Lehi,
Utah, and maintains offices in Newport Beach, California.
Follow VERB here:
VERB on Facebook:
https://www.facebook.com/VerbTechCo/
VERB on Twitter:
https://twitter.com/VerbTech_Co
VERB on LinkedIn:
https://www.linkedin.com/company/verb-tech/
VERB on YouTube:
https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ
Forward-Looking Statements
This 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. All forward-looking statements are inherently uncertain as
they are based on current expectations and assumptions concerning
future events or future performance of the Company. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the
date hereof. In evaluating such statements, prospective investors
should review carefully various risks and uncertainties identified
in this release and matters set forth in the Company's SEC filings.
These risks and uncertainties could cause the Company's actual
results to differ materially from those indicated in the
forward-looking statements.
Investor
Relations:888.504.9929investors@verb.tech
Media Contact:855.250.2300,
ext.125info@verb.tech
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