NextPlat Corp. (NASDAQ: NXPL), a global e-commerce provider, has completed its previously disclosed private placement transaction. The placement comprised the sale of 3,428,571 common stock shares to an accredited investor; the shares were sold at $0.0001 par value per share. The announcement noted that NextPlat received gross proceeds of approximately $6 million as a result of the offering. The company noted it is required to file an initial registration statement with the Securities and Exchange Commission covering the resale of the shares within 120 calendar days as well as have the registration statement declared effective within 150 days. ArentFox Schiff LLP, Washington, DC, acted as counsel in connection with the offering.
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About NextPlat Corp
NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets for physical and digital assets. The company intends to collaborate with businesses, optimizing the ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications services division through its Global Telesat Communications Ltd. and Orbital Satcom Corp. business units, which offer voice, data, tracking and IoT services to customers worldwide through multiple global storefronts. For more information about the company, please visit www.NextPlat.com.
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