SurgePays announces underwritten public offering of common stock

SurgePays Inc. (NASDAQ: SURG) announced it has commenced an underwritten public offering of common stock and pre-funded warrants. The wireless and fintech point of sale company said all securities in the offering will be sold by the company.

R.F. Lafferty & Co., Inc. is serving as the sole book-running manager for the offering. The company noted the offering remains subject to market conditions and provided no assurance regarding completion, timing, size or terms.

The securities are being offered under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. The registration statement became effective on November 3, 2023.

SurgePays operates a point of sale platform in retail locations nationwide, providing mobile and financial services to subprime and underserved consumers. The company's infrastructure supports SIM activations, top-ups and financial transactions for prepaid and underbanked customers.

The company stated it is expanding into data-driven marketing and digital partnerships to create recurring revenue streams. A prospectus supplement describing the offering terms will be filed with the SEC.

Information about the offering will be available through the SEC's website and from R.F. Lafferty & Co., Inc. at 40 Wall Street, Suite 3602, New York, NY 10005.

You May Also Be Interested In

• Banzai launches $1M public offering of Class A common stock
• Evaxion shares preclinical data for CMV vaccine program EVX-V1
• Haoxi Health plans $4M registered direct offering at $0.40 a share