MONTVALE, NJ, announced February 16, 2021 (GLOBE NEWSWIRE) – MICT, Inc. (Nasdaq: MICT) (the “Company”), today announced that it had closed the previously announced direct offer of (i) 22,471,904 common shares. stock, (ii) 22,471,904 Series AA ‘warrants 22,471,904 shares of common stock and (iii) 11,235,952 Series B Warrants to purchase 11,235,952 shares of common stock at a combined purchase price of $ 2.67. The total proceeds to MICT from this offer are approximately $ 60,000,000, before placement agent fees and other estimated offer costs are deducted. The Series A warranty is viable six months after the date of issue, they have an exercise price of $ 2.80 per installment and expire five and a half years from the date of issue. The Series B Warranties are viable six months after the date of issue, have an exercise price of $ 2.80 per installment and expire three and a half years from the date of issue.
AGP / Alliance Global Partners was one positioning agent for the offer.
This offer was made in accordance with an effective shelf registration statement on Form S-3 (No. 333-248602) previously filed by the U.S. Securities and Exchange Commission (the “SEC”) effectively cited by SEC on 14 September 2020 A preview and accompanying preview file outlining the terms of the offer has been submitted by the SEC and is available on the SEC website at http://www.sec.gov. Electronic copies of the preview are available from AGP / Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or by phone at 212-624-2060 or email: [email protected].
This press release does not constitute an offer to sell or bid to purchase, and no sale of such securities shall be made in any state or jurisdiction in which such offer, bid or sale would be made. illegal before registration or certification. under the laws of state securities or such jurisdiction.
About MICT
MICT, Inc. (Nasdaq: MICT) operates through its subsidiaries, GFH Intermediate Holdings Ltd. (“GFHI”) and Micronet Ltd. (“Micronet”). GFHI’s multi-functional property trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Key areas of focus include online breakdown for equities trading and wealth management services and the sale of insurance products in several high-growth foreign markets, including Asia, where there is a large database of users at GFHI. Micronet operates in the telematics management and commercial mobile device management market, primarily in the United States and Europe. Micronet designs, develops, manufactures, and sells mobile computing solutions that provide computing solutions to naval operators and site personnel in challenging work environments.
Statement looking forward
This press release contains some forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Trading of Securities Act 1934, as amended, and the -development of Private Security Literature, as amended, incorporating those relating to the Company’s intended use of profits and other statements that are predictable in nature. Such positive statements and their effects include risks, uncertainties and known and unknown factors that may cause actual results or performance to be significantly different from those that are. in view. The forward-looking statements in this press release are subject to other risks and uncertainties, including those set forth in the Company’s films by the SEC, includes, without limitation, their Annual Report on Form 10-K for the year to December 31, 2019, the quarterly report form 10-Q, and its routine reports on Form 8-K, which in addition to the risks identified in the shelf listing statement and the forecast forecast associated with the offer. But as the law requires otherwise, it is not the Company’s obligation (and clearly refuses to have such a duty) to update or alter its forward-looking statements at least as a result. on new information, future events or otherwise.
Contact:
[email protected]
(201) 225-0190