$MCVT 1.25m shares priced @ $4 and they just announced blowout earnings and guidance...don't go by finviz they haven't updated to account for 1:2.25 reverse split. Yahoo has the float at 1.5m which is closer but also inaccurate.
Mill City Ventures III, Ltd. Announces Pricing of $5.0 Million Public Offering and Concurrent Uplisting to the Nasdaq Capital Market PUBLISHED AUG 9, 2022 12:21AM EDT MINNEAPOLIS, Aug. 9, 2022 /PRNewswire/ -- Mill City Ventures III, Ltd. (NasdaqCM: MCVT) (Mill City or the "Company") a non-bank lender and specialty finance company, today announced the pricing of its underwritten public offering of 1,250,000 shares of common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of $5,000,000, before underwriting discounts and commissions. In addition, the Company has granted the underwriters a 45-day option to purchase up to 187,500 additional shares of common stock at the offering price, less the underwriting discount. The Company expects to commence trading on the Nasdaq Capital Market ("Nasdaq") tomorrow.
In connection with the Nasdaq listing, the Company will implement a reverse split of its issued and outstanding shares of common stock at a ratio of 1 for 2.25. The reverse stock split will be effective as of the open of trading on August 9, 2022. The share numbers and pricing information in this release are adjusted to reflect the reverse stock split. The offering is expected to close on August 11, 2022, subject to customary closing conditions.
The Company intends to use the net proceeds of this offering primarily for general corporate purposes, including working capital, expanded sales and marketing activities, and providing additional specialty short-term loans.
Advisor Details Alexander Capital, LP is acting as sole book-running manager for the offering. Lucosky Brookman LLP served as counsel to Mill City. Cozen O'Connor, P.C. served as counsel to the underwriters.
The securities described above are being offered by Mill City pursuant to a registration statement on Form S-1 (File No. 333-264474) that was declared effective by the U.S. Securities and Exchange Commission on August 8, 2022. The offering is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus related to the offering, when available, may be obtained from Alexander Capital, LP, 17 State Street 5th Floor, New York, NY 10004, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing info@alexandercapitallp.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or 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 such state or jurisdiction.
About Mill City Founded in 2007, Mill City is a short-term non-bank lending and specialty finance company. Additional information can be found at www.sec.gov.