Fort Lauderdale, FL, May 23, 2022 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX:SMDM) – the worldwide leader in consumer karaoke products today announced the pricing of its underwritten public offering of 1,000,000 shares of common stock at a price to the public of $4.00 per share, for aggregate gross proceeds of $4 million, prior to deducting underwriting discounts and offering expenses. The pricing occurs following a 1-for-30 reverse stock split, which was effective at 5:30 p.m. on May 23, 2022. Based on the closing price of $0.1865 per share of the Company’s common stock on May 23, 2022, the effective post-split price per share was $5.595.
Singing Machine Announces Pricing of $4 Million Public Offering and Uplisting to the Nasdaq Capital Market Under New Ticker “MICS”
Globe Newswire - Press Release
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