Stran & Company, Inc. Announces Price Increase Of $ 18.0


Quincy, MA, Nov. 8, 2021 (GLOBE NEWSWIRE) – Stran & Company, Inc. (“Stran” or the “Company”) (NASDAQ: STRN) (NASDAQ: STRNW), a leading provider of outsourced marketing solutions, of its Expertise in Promotional Products and Loyalty Incentives, today announced the pricing of its increased initial public offering of 4,337,349 units, each consisting of one common share (the “Common Share”) and one warrant (the “Warrants”) to buy one share of common stock at one public offering price of $ 4.15 per unit for total gross proceeds of approximately $ 18.0 million before the deduction of subscription discounts, commissions, and other offering costs. Each unit is immediately split into a common share and a warrant. Each warrant entitles the holder to purchase one share of common stock at an exercise price of $ 5.1875 and expires five years from the date of issue. In addition, the Company has given the Underwriters a 45-day option to purchase up to 650,602 additional shares and / or warrants to purchase up to 650,602 common shares in any combination thereof at the public offering price per security, minus the actuarial discounts and commissions to to cover any over-allotments. The offering is expected to end on or about November 12, 2021, subject to customary closing conditions being met.

The Company has received approval to list its common stock and warrants on the Nasdaq Capital Market with the common stock trading under the symbol “STRN” and the warrants trading under the symbol “STRNW”. Trading is expected to begin on November 9, 2021.

EF Hutton, a division of Benchmark Investments, LLC, is acting as lead book-running manager for the offering. US Tiger Securities, Inc. is acting as the joint book-running manager.

A registration statement on Form S-1, as amended (File Number 333-260109) has been filed with the Securities and Exchange Commission (“SEC”) and was declared effective November 8, 2021, and a registration statement on Form S -1MEF ( File number 333-260880) was filed with the SEC on the same day 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 at Electronic copies of the final prospectus for this offering, when available, are available from EF Hutton, Division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022 Attention: Syndicate Department, or by email at syndicate @ or call (212) 404-7002.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor is there a sale of such securities in any state or jurisdiction in which such offer, solicitation or solicitation is being made Selling would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Strana

Over the past 25 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to influence the value of promotional products, branded products and loyalty incentive programs as a tool for increasing awareness, branding and selling. Stran is the chosen partner of many Fortune 500 companies in a variety of industries to run their promotional marketing, loyalty and incentive, sponsorship, recruitment, retention and wellness campaigns. Stran provides world-class customer service and uses the latest technology, including efficient ordering and logistics technology, to provide order processing, warehousing and fulfillment functions. The company’s mission is to build long-term relationships with its customers that allow them to connect with both their customers and their employees to build lasting brand loyalty. Further information about the company can be found at:

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to significant risks and uncertainties. All statements in this press release, other than historical facts, are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of the words “anticipate,” “believe,” “consider,” “may,” “estimate,” “expect,” “intend,” “seek,” “may,” ” could, “plan,” “potentially,” “predict,” “project,” “aim,” “aim,” “should,” “will,” “would” or the negative of these words or other similar expressions, although not All forward-looking statements contain these words. Forward-looking statements are based on the company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Furthermore, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. These and other risks and uncertainties will be further described in the section entitled “Risk Factors” in the final prospectus relating to the public offering made with the SEC and in other reports subsequently filed with the SEC. Forward-looking statements contained in this release are made as of this date and the company assumes no obligation to update this information unless required by applicable law.


Source link


About Author

Leave A Reply