Kaspien Holdings Inc. Announces Closing of $8 Million Registered Direct and Private Placement Offerings Priced At-the-Market Under Nasdaq Rules

SPOKANE, Wash., July 14, 2022 /PRNewswire/ -- Kaspien Holdings Inc. (or the "Company") (NASDAQ:KSPN), a leading e-commerce marketplace growth platform, today announced the closing of its previously announced registered direct offering and concurrent private placement with a single institutional investor priced at-the-market under Nasdaq rules. The Company issued 638,978 shares of its common stock at a purchase price of $3.13 per share (or pre-funded warrant in lieu thereof) in the registered direct offering. In the concurrent private placement, Kaspien Holdings Inc. has also issued and sold to the investor 1,818,182 shares of common stock at a purchase price of $3.30 per share (or pre-funded warrant in lieu thereto) and warrants to purchase 2,457,160 shares of common stock at an exercise price of $3.13. The warrants will have a 5-year term from the date of issuance. The aggregate gross proceeds to the Company of both offerings were approximately $8 million.