SG Blocks, Inc. (NASDAQ: SGBX) announced the pricing of an underwritten public offering of 6,000,000 shares of common stock at an offering price of $2.50 per share for aggregate gross proceeds of $15,000,000, prior to deducting underwriting discounts, commissions and other offering expenses. SG Blocks, Inc. has granted the underwriters a 45-day option to purchase up to an additional 900,000 shares of common stock to cover over-allotments if any. The offering is expected to close on or about May 11, 2020, subject to the satisfaction of customary closing conditions.
SG Blocks, Inc., intends to use the net proceeds from the proposed offering for working capital and general corporate purposes and engaging in acquisitions or other business combinations or investments, sales and marketing activities, general and administrative matters and capital expenditures.
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.