OSS completes $12.5 million stock offering to fund growth

One Stop Systems Inc. (NASDAQ: OSS) announced it has completed a registered direct offering of 2.5 million shares of common stock at $5.00 per share, generating gross proceeds of approximately $12.5 million before deducting placement agent commissions and other offering expenses.

The Escondido, California-based company, which specializes in rugged enterprise-class compute systems for artificial intelligence and machine learning applications, sold the shares to new and existing institutional investors.

"This offering provides the capital to support our current and future sales growth, while also strengthening our balance sheet," stated Mike Knowles, OSS president and CEO.

The company plans to use the net proceeds for growth strategy advancement, working capital to support expected growing sales, and business acceleration with a focus on mergers and acquisitions and expansion both domestically and internationally.

A.G.P./Alliance Global Partners served as lead placement agent while Roth Capital Partners acted as joint-placement agent for the offering.

The securities were offered under an effective shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on August 25, 2023.

OSS designs and manufactures compute and storage products for edge applications across industries including autonomous trucking, farming, and defense applications for aircraft, drones, ships and vehicles.

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