Advent Technologies Announces $2 Million Registered Direct Offering of Common Stock.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, today announced that it has entered into securities purchase agreements with institutional and accredited investors to purchase 10,000,000 shares of common stock in a registered direct offering at a per share purchase price of $0.20, resulting in gross proceeds of $2,000,000.
The transaction is expected to close on or about December 27, 2023, subject to the satisfaction of customary closing conditions.
Joseph Gunnar & Co., LLC is acting as the exclusive placement agent for the offering.
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The shares of common stock in the registered direct offering were offered pursuant to a “shelf” registration statement on Form S-3 (File No. 333-271389) initially filed with the Securities and Exchange Commission (the “SEC”) on April 21, 2023, and declared effective by the SEC on May 2, 2023. The offering of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Joseph Gunnar & Co., LLC Attention: Syndicate Department at 40 Wall Street, Suite 30, New York, NY 10005 or by telephone at (212) 440-9600.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
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Advent Technologies Announces $2 Million Registered Direct Offering of Common Stock. source
