Stran & Company Inc. Announces Pricing of Upsized $18M IPO and Nasdaq Listing
Stran & Company Inc., Quincy, Mass., announced the pricing of its upsized initial public offering of 4,337,349 units, each consisting of one share of common stock and a warrant to purchase one share of common stock, at a public offering price of $4.15 per unit, for aggregate gross proceeds of approximately $18.0 million, prior to deducting underwriting discounts, commissions and other offering expenses. Each unit will immediately separate into one share of common stock and one warrant.
The offer was expected to close on or about Nov. 12, 2021, subject to satisfaction of customary closing conditions.
Stran has received approval to list its common stock and warrants on the Nasdaq Capital Market, with its common stock trading under the symbol “STRN” and the warrants trading under the symbol “STRNW,” with trading expected to begin on Nov. 9, 2021.
EF Hutton, division of Benchmark Investments LLC, is acting as lead book-running manager for the offering. US Tiger Securities Inc. is acting as joint book-running manager.
A registration statement on Form S-1, as amended (File No. 333-260109), was filed with the Securities and Exchange Commission and was declared effective on Nov. 8, 2021; and a registration statement on Form S-1MEF (File No. 333-260880), was filed with the SEC on the same date and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website.
For more information, visit www.stran.com.
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