Viewbix Secures $4.5 Million in At-The-Market Private Placement

Viewbix Inc. Announces Major Private Placement Transaction
In a recent announcement, Viewbix Inc. (Nasdaq: VBIX), a trailblazer in ad-tech innovation, revealed its entry into definitive agreements for a noteworthy private placement. This strategic move will see the Company raise approximately $4.5 million by selling common stock and pre-funded warrants to select institutional investors. This transaction marks a pivotal step in its ongoing commitment to enhancing its business framework.
Details of the Private Placement
The company plans to issue around 925,923 units, consisting of common stock and pre-funded units. Each common unit will be priced at $4.86, with pre-funded units at the same rate minus the warrant exercise cost of just $0.0001. With each unit encompassing one share of common stock and a common warrant, investors are getting plenty of value from this offering. The common warrants can be exercised at a price of $4.74 per share, giving investors advantageous potential returns.
Benefits of the Offering
Post-transaction, Viewbix will strategically utilize these funds to explore diverse business opportunities and sectors. The aim is to enhance operations and potentially diversify offerings to better meet market demands. The gross proceeds from the placement are expected to support these goals, along with providing working capital for daily operations.
Expected Closing Dates
The closing of this private offering is anticipated around mid-July, contingent on customary closing conditions being satisfied. This timeline underscores Viewbix's proactive approach in capitalizing on market opportunities swiftly.
Representation and Counsel
Aegis Capital Corp. is serving as the exclusive placement agent for this private placement while several legal firms, including Greenberg Traurig, P.A. and Sichenzia Ross Ference Carmel LLP, are providing counsel to ensure the transaction adheres to regulatory standards.
Business Overview of Viewbix Inc.
Viewbix, along with its subsidiaries such as Gix Media Ltd. and Cortex Media Group Ltd., operates actively in the digital advertising domain. Their core activities encompass both search technologies and digital content creation. The team develops innovative software solutions aimed at automating, optimizing, and monetizing internet campaigns, thus helping clients acquire valuable user traffic.
Maximizing Opportunities for Advertisers
Engaged in the creation and editing of diverse content tailored for specific audiences, Viewbix drives revenue through major advertising platforms. This approach enables advertisers and website owners to maximize their earnings and enhance overall profitability, solidifying Viewbix's position in the market as a vital partner for digital success.
Conclusion
Viewbix’s current initiatives, including the recent private placement, signify its dedication to not just sustaining but expanding its influence in the digital advertising sector. Investors can look forward to seeing how these developments translate into tangible growth moving forward.
Frequently Asked Questions
What is the purpose of the $4.5 million private placement?
The funds will be used to explore new business opportunities and support general corporate purposes and working capital.
Who is representing Viewbix in this transaction?
Aegis Capital Corp. is the exclusive placement agent for the private placement.
What type of securities are being issued?
Viewbix is issuing common stock and pre-funded units as part of this private placement.
What is the expected closing date for the placement?
The private placement is expected to close around mid-July, pending certain customary closing conditions.
How does Viewbix aim to benefit from this offering?
By raising capital through this placement, Viewbix aims to invest in new technology and enhance its business model to increase market share.
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