SurgePays Announces Proposed Public Offering
January 17 2024 - 4:05PM
SurgePays, Inc. (Nasdaq: SURG) (“SurgePays”), a technology and
telecom company focused on the underbanked and underserved
communities, today announced that it has commenced an underwritten
public offering of shares of its common stock. SurgePays also
intends to grant the underwriters a 45-day option to purchase up to
an additional 15% of the aggregate number of shares of its common
stock sold in the offering. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed or as to the actual size or
terms of the offering. All of the shares of common stock to be sold
in the proposed offering will be sold by SurgePays.
Titan Partners Group, a division of American
Capital Partners, is acting as sole book-running manager for the
proposed offering.
The offering is being made pursuant to an
effective “shelf” registration statement on Form S-3 (File No.
333-273110) previously filed with the Securities and Exchange
Commission (the “SEC”) on July 3, 2023, as amended on August 4,
2023, September 9, 2023, and October 23, 2023, and declared
effective by the SEC on November 3, 2023. The shares of common
stock may be offered only by means of a prospectus. A preliminary
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the offering will be filed with the
SEC. Electronic copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the offering, when
available, may be obtained by visiting the SEC’s website at
www.sec.gov or by contacting Titan Partners Group, LLC, a division
of American Capital Partners, LLC, 4 World Trade Center, 29th
Floor, New York, New York 10007, by phone at (929) 833-1246 or by
email at info@titanpartnersgrp.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About SurgePays
SurgePays, Inc. is a technology and telecom
company focused on the underbanked and underserved communities.
SurgePays technology layered platform empowers clerks at over 8,000
convenience stores to provide a suite of prepaid wireless and
financial products to underbanked customers. SurgePays prepaid
wireless companies provide services to over 250,000 low-income
subscribers nationwide.
Forward-Looking Statements
This press release includes express or implied
statements that are not historical facts and are considered
forward-looking within the meaning of Section 27A of the Securities
Act and Section 21E of the Securities Exchange Act. Forward-looking
statements involve substantial risks and uncertainties.
Forward-looking statements generally relate to future events or our
future financial or operating performance and may contain
projections of our future results of operations or of our financial
information or state other forward-looking information. In some
cases, you can identify forward-looking statements by the following
words: “may,” “will,” “could,” “would,” “should,” “expect,”
“intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “ongoing,” or the negative of
these terms or other comparable terminology, although not all
forward-looking statements contain these words. Although we believe
that the expectations reflected in these forward-looking statements
are reasonable, these statements relate to future events or our
future operational or financial performance and involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by these forward-looking statements.
Furthermore, actual results may differ materially from those
described in the forward-looking statements and will be affected by
a variety of risks and factors that are beyond our control,
including, without limitation, statements about the timing of the
offering, satisfaction of customary closing conditions related to
the offering and sale of the common stock, the grant to the
underwriters of an option to purchase additional common stock, and
SurgePays ability to complete the offering. The forward-looking
statements contained in this release are also subject to other
risks and uncertainties, including those more fully described in
our filings with the Securities and Exchange Commission (“SEC”),
including in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2022 and the preliminary prospectus supplement
and the accompanying prospectus related to the proposed public
offering to be filed with the SEC on or about the date hereof. The
forward-looking statements in this press release speak only as of
the date on which the statements are made. We undertake no
obligation to update, and expressly disclaim the obligation to
update, any forward-looking statements made in this press release
to reflect events or circumstances after the date of this press
release or to reflect new information or the occurrence of
unanticipated events, except as required by law.
Contact Information
Brian M. Prenoveau, CFAMZ Group – MZ North
Americabrian.prenoveau@mzgroup.us+561 489 5315
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