Benzinga | Jul 22, 2020 05:44AM EDT

VERB Prices 10.9M Share Underwritten Public Offering @$1.10/Share

VERB Technology Company, Inc. (NASDAQ:VERB) has today announced the pricing of an underwritten public offering of common stock for gross proceeds of approximately $12 million prior to deducting underwriting discounts and commissions and offering expenses payable by Verb. The offering is comprised of 10,909,090 shares of common stock priced at a public offering price of $1.10 per share.

The closing of the offering is expected to take place on or about July 23, 2020, subject to the satisfaction or waiver of customary closing conditions.

Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager in connection with the offering.

A total of 10,909,090 shares of common stock will be issued in the offering. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 1,636,363 shares of common stock solely to cover over-allotments, if any, at the public offering price per share, less the underwriting discounts and commissions.