Alpine 4 Holdings Inc. said that it has entered into definitive agreements with institutional investors for the purchase sale of 8,571,430 shares of the company's common stock, and warrants to purchase 4,285,715 shares at a combined purchase price of $2.80 per one share and accompanying one-half warrant.
The warrants will have an exercise price of $3.10 per share and will expire five years following the issuance date.
The Phoenix-based company will be raising $24 million through the direct offering.
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The closing of the offering is expected on November 26, 2021, the company said in a release.
Alpine 4 Holdings is a Nasdaq-traded conglomerate that acquires businesses that fit into its disruptive DSF business model of Drivers, Stabilizers, and Facilitators.
The company focuses is on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. It also believes that its holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas, and create fertile ground for competitive advantages.
Contact Ritika at ritika@proactiveinvestors.com