Replies to post #4334 on OTC IPOs, Mergers & Other Material Events

[Big Brother]

Looks like one that would be qualified to go from the OTC to the big boards right away, as they have raised over $60M in a private placement.

The Private Placement

On June 19, 2020, we sold 12,096,442 shares of common stock pursuant to the initial closing of a private placement, or the Private Placement, at an offering price of $5.00 per share, or the Offering Price.

The aggregate gross proceeds from the initial closing of the Private Placement were approximately $60.5 million (before deducting placement agent fees and total expenses in connection with the initial closing of the Private Placement, which are estimated at approximately $6.3 million).