Latest news with #stockoffering
Associated Press
a day ago
- Business
- Associated Press
Reliance Global Group Announces Up To $6.75 Million Private Placement Priced At-The-Market Under Nasdaq Rules
LAKEWOOD, NJ, June 18, 2025 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI) ('Reliance,' 'we,' 'us,' 'our' or the 'Company'), today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 1,488,096 shares of its common stock (or pre-funded warrants in lieu thereof) and short-term warrants to purchase up to an aggregate of 2,976,192 shares of common stock at a purchase price of $1.68 per share (or per pre-funded warrant in lieu thereof) and accompanying short-term warrants in a private placement priced at-the-market under Nasdaq rules. The short-term warrants will be exercisable immediately upon issuance at an exercise price of $1.43 per share and will expire two years from the effective date of the Resale Registration Statement (as defined below). The offering is expected to close on or about June 20, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The aggregate gross proceeds to the Company from the private placement is expected to be approximately $2.5 million, before deducting placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the short-term warrants, if fully-exercised on a cash basis, will be approximately $4.25 million. No assurance can be given that any of such short-term warrants will be exercised. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes. The shares of common stock, pre-funded warrants and short-term warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the 'Act') and Regulation D promulgated thereunder and, along with the shares of common stock underlying the pre-funded warrants and short-term warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the shares of common stock, the pre-funded warrants, the short-term warrants and the shares of common stock underlying the pre-funded warrants and short-term warrants may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ('SEC') or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the pre-funded warrants and warrants (the 'Resale Registration Statement'). This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Reliance Global Group, Inc. Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company's business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company's business-to-consumer platform, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance. In addition, the Company operates its own portfolio of select retail 'brick and mortar' insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by terminology such as 'may,' 'should,' 'could,' 'would,' 'will,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'estimate,' 'continue,' 'potential,' and similar expressions. All statements, other than statements of historical fact, including, but not limited to, statements regarding: are forward-looking statements and are subject to substantial risks and uncertainties. These forward-looking statements are based on a number of assumptions, including, among others: that the offering will close on the anticipated timeline; that market and economic conditions will remain stable; that the Company will be able to deploy the net proceeds effectively; and that investors will exercise the short-term warrants in full or in part. There can be no assurance that these assumptions will prove correct. There are numerous risks and uncertainties that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These include, among others: the risk that the offering may not close as expected or at all; the risk that the Company may not receive the anticipated proceeds from the short-term warrants; risks associated with the Company's ability to use the proceeds effectively; general business, economic, competitive, regulatory and market factors; the impact of adverse capital and credit market conditions; and the other risks and uncertainties described in the 'Risk Factors' sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and in other reports filed or to be filed by the Company with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. Contact: Crescendo Communications, LLC Tel: +1 (212) 671-1020 Email: [email protected]
Globe and Mail
2 days ago
- Business
- Globe and Mail
Archer Aviation Stock (ACHR) Slips 14%, Yet Analyst Expects 30%+ Upside on eVTOL Plans
Archer Aviation (ACHR) stock took a sharp hit on Friday, with shares sliding 14% after the company announced an $850 million stock offering priced at $10 per share. The deal is expected to bring in $817.1 million in net proceeds and is set to close on June 16, 2025. While the fresh capital will help fuel Archer's growth and aircraft certification efforts, the share dilution clearly weighed on investor sentiment. In response to the funding news, Canaccord Genuity analyst Austin Moeller reaffirmed his Buy rating on Archer but trimmed the price target slightly from $13.50 to $13.00. The new price target implies over 30% upside potential. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The announcement comes on the heels of new executive orders from President Donald Trump to implement an eVTOL (electric vertical takeoff and landing) Integration Pilot Program (eIPP) in the United States. This initiative aims to speed up the rollout of eVTOL aircraft in the U.S. Analyst Backs Archer's eIPP Bid Moeller called the $850 million raise an important move to help Archer take part in the eIPP. This new U.S. government program will support five electric aircraft projects, with the goal of getting them ready to operate before the 2028 Olympic Games in Los Angeles. According to the analyst, Archer's quick action to raise funds shows its clear intent to take part in this eIPP initiative. He believes this extra capital will help the company speed up production and move through the aircraft certification process—both of which are crucial for meeting the program's tight timeline. With this funding round, Archer's total cash balance is expected to rise to around $1.8 billion, based on its first-quarter 2025 figures and past fundraises. Notably, Archer ended the quarter with $1.03 billion in cash and equivalents. Moeller added that this figure does not include $47.5 million available through its at-the-market (ATM) program or up to $400 million in future support from Stellantis, which is expected to help expand production of the Midnight aircraft in Georgia. Moeller believes Archer's strong financial base gives it a clear edge over its rivals. The Department of Transportation has 180 days to choose five aircraft designs for the eIPP, and Moeller sees Archer as a top contender. In his view, Archer stands out as one of the two leading eVTOL developers in the U.S. Is ACHR Stock a Buy, Sell, or Hold? ACHR stock price target of $11.75 implies about 17.62% upside potential. See more ACHR analyst ratings
Yahoo
6 days ago
- Business
- Yahoo
Why Shares of D-Wave Quantum Are Sinking This Week
D-Wave Quantum announced an at-the-market offering to potentially raise hundreds of millions of new capital. The offering could be dilutive to shareholders. Nvidia's CEO Jensen Huang commented on quantum computing this week. 10 stocks we like better than D-Wave Quantum › Since last Friday, shares of D-Wave Quantum (NYSE: QBTS) fell nearly 15% as of the market close on Thursday. The stock also traded lower on Friday. While the quantum computing sector experienced some good news this week, D-Wave also announced an at-the-market (ATM) stock offering to potentially raise new capital. D-Wave's ATM offering is with several brokerages and investment banks and will allow the company from time to time to conduct the "issuance and sale" of common stock for up to $400 million. The word issuance indicates that new shares could be offered to raise capital, which would be dilutive to existing shareholders. In a filing with the Securities and Exchange Commission( SEC), D-Wave also said that cash balances on hand as of March 31 are enough "to fund the company to profitability." D-Wave plans to use any potential proceeds for general corporate purposes, including funding capital expenditures (capex), acquiring new companies, or expanding the business, as well as for general working capital purposes. The news is disappointing because it comes during a week when Nvidia's CEO Jensen Huang praised quantum computing. "We are within reach of being able to apply quantum computing in areas that can solve some interesting problems in the coming years," he said. Few CEOs can move the market, but Huang is one of them, being one of the most influential people in the artificial intelligence (AI) sector. Other quantum computing stocks jumped this week. Shareholders never like to see dilutive capital raises, but with D-Wave trading at an extremely high valuation, this is often when management will try and bring in additional capital to fund growth. Either way, it's been an incredible run. D-Wave's stock is up 1,268% over the last year and currently trades at 191 times forward sales. While D-Wave appears to be making real progress toward eventually mass producing quantum computers, it's very difficult to buy stocks at these kinds of meteoric valuations. I wouldn't recommend anything more than a small, speculative position at this time. Before you buy stock in D-Wave Quantum, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and D-Wave Quantum wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,255!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $888,780!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. Why Shares of D-Wave Quantum Are Sinking This Week was originally published by The Motley Fool
Bloomberg
27-05-2025
- Business
- Bloomberg
Sell Your Crypto on the Stock Exchange
Last Tuesday, SharpLink Gaming Inc. was an online marketing company for sports betting with a stock price of about $2.91 per share and an equity market capitalization of about $2 million. It was listed on the Nasdaq, but only barely; a few weeks ago it had to do a reverse stock split to stay above Nasdaq's $1 minimum stock price, and it also didn't meet Nasdaq's minimum $2.5 million shareholders' equity requirement. So on Tuesday it announced a stock offering, raising $4.5 million at $2.94 per share, with a use of proceeds of 'regaining compliance with Nasdaq's minimum requirement for total stockholders' equity.' Though it added: 'We may elect to use a portion of the proceeds to acquire crypto currencies in connection with execution of the potential treasury strategy we currently have under consideration.' And why wouldn't it? SharpLink was only in the very most technical sense a US public company: It had a public listing, but with a $2 million market capitalization it did not really meet the requirements for a public listing, and its business — with revenue in the mid seven figures — did not really justify the expense and complexity of being a public company. In the past, that would be bad.
Globe and Mail
21-05-2025
- Business
- Globe and Mail
Ryman Hospitality Properties, Inc. Announces Closing of Upsized Common Stock Offering and Full Exercise of Underwriters' Over-Allotment Option
NASHVILLE, Tenn., May 21, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (the 'Company') today announced the closing of its previously announced upsized underwritten registered public offering of 2,990,000 shares of its common stock, par value $0.01 per share, at a price to the public of $96.20 per share (the 'Offering'). The shares sold in the Offering included 390,000 shares sold following the May 20, 2025 exercise in full of the underwriters' option to purchase additional shares of common stock, which were delivered at the time of the closing of the Offering. As a result, the Company received aggregate net proceeds from the sale of the common stock of approximately $275 million, after deducting underwriting discounts and commissions and other estimated expenses of the Offering payable by the Company. Morgan Stanley, BofA Securities, J.P. Morgan and Wells Fargo Securities acted as active joint book-running managers for the Offering, and Deutsche Bank Securities, BTIG, Credit Agricole CIB, Scotiabank, SMBC Nikko and Raymond James acted as bookrunners for the Offering. The Company expects to contribute the net proceeds of the Offering to RHP Hotel Properties, LP (the 'Operating Partnership'). The Operating Partnership subsequently intends to use all of the net proceeds of the Offering to fund a portion of the approximately $865 million purchase price for the previously announced pending acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa located in Phoenix, Arizona (the 'Desert Ridge Acquisition') and to pay related fees and expenses of the Desert Ridge Acquisition. The balance of the purchase price of the Desert Ridge Acquisition will be funded with a combination of cash on hand and the net proceeds the Operating Partnership and RHP Finance Corporation (collectively, the 'Issuers') receive upon consummation of the Issuers' recently announced private placement of $625 million aggregate principal amount of senior notes due 2033 (the 'Notes'), which the Issuers upsized and priced on May 20, 2025 (the 'Private Placement'). The aggregate net proceeds from the Private Placement are expected to be approximately $614 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses. Subject to customary closing conditions, the Private Placement is expected to close on June 4, 2025. If the Desert Ridge Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, and the Notes will be redeemed in accordance with a special mandatory redemption at a redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest, if any, up to, but excluding, the special mandatory redemption date. This press release shall not constitute an offer to sell or the solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Ryman Hospitality Properties, Inc. Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns the JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to our Gaylord Hotels properties. The Company's hotel portfolio is managed by Marriott International and includes a combined total of 11,414 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns an approximate 70% controlling ownership interest in Opry Entertainment Group (OEG), which is composed of entities owning a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium; WSM 650 AM; Ole Red; Category 10; Nashville-area attractions; Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at the Moody Theater, located in downtown Austin, Texas; and a majority interest in Southern Entertainment, a leading festival and events business. RHP operates OEG as its Entertainment segment in a taxable REIT subsidiary, and its results are consolidated in the Company's financial results. Cautionary Note Regarding Forward-Looking Statements This press release contains statements as to the Company's beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the Desert Ridge Acquisition and the anticipated use of the net proceeds of the Offering and the Private Placement by the Company. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with the Desert Ridge Acquisition and the Private Placement including, but not limited to, the occurrence of any event, change or other circumstance that could delay the closing of the Desert Ridge Acquisition or the Private Placement, or result in the termination of the Private Placement or the transaction agreement for the Desert Ridge Acquisition; and adverse effects on the Company's common stock because of the failure to complete the Desert Ridge Acquisition or the Private Placement. Other factors that could cause results to differ are described in the filings made from time to time by the Company with the Securities and Exchange Commission and include the risk factors and other risks and uncertainties described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, and subsequent filings, including the Current Report on Form 8-K filed May 19, 2025. Except as required by law, the Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
