SURG to do Secondary SURGEPAYS, INC 2,735,043 Units and 50:1 reverse split
This is a firm commitment underwritten public offering of 2,735,043 units (the “Units”), based on an assumed public offering price of $5.85 per Unit, of SurgePays, Inc., a Nevada corporation the “Company,” “we,” “us,” “our”), the last reported sales price for our Common Stock as quoted on the OTCQB on September 10, 2021 assuming a reverse stock split of 1-for-50 ($0.117 per share on a pre-split basis) At $5.85/share would reflect a pre-split price of $0.117/share. Lots of warrants issued too so I suspect this to trade lower.
FWIW sold entire position at/above $0.12/share earlier this month. Still like their services so will try to build a new position after their offering at/below $5.00/share (or about 15% the secondary offering price). |
