Singing Machine Announces Termination of its At-the-Market Equity Program
The Singing Machine Company, Inc. (MICS)
Company Research
Source: GlobeNewswire
Fort Lauderdale, FL, May 16, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the North American leader in consumer karaoke products -- today announced it has terminated its “at-the-market” (“ATM”) equity program with Aegis Capital Corp., as sales agent (the “Agent”). The Company elected to terminate the ATM because it had achieved its objective of raising capital under the ATM. Through the utilization of the ATM, the Company sold approximately 1,067,000 shares of common stock and raised approximately $1.74 million in gross proceeds, or approximately $1.64 per share. Gary Atkinson, the Company’s CEO commented, “We’re pleased to have successfully utilized the ATM as the most cost-effective form of raising equity capital. The Company successfully met its goal of bolstering its balance sheet without issuing warrants or providing a discount to market. The proceeds from the ATM will provide the Company with access to work
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MICS
News
- Company Provides 2024 Results of Operations [Yahoo! Finance]Yahoo! Finance
- Company Provides 2024 Results of OperationsGlobeNewswire
- Singing Machine Secures $2 Million Senior Credit Facility [Yahoo! Finance]Yahoo! Finance
- Singing Machine Secures $2 Million Senior Credit FacilityGlobeNewswire
- Singing Machine Announces Distribution & License Agreement for Singing Machine Product Sales in the People's Republic of China [Yahoo! Finance]Yahoo! Finance
MICS
Sec Filings
- 4/15/24 - Form 10-KT
- 4/3/24 - Form 8-K
- 4/1/24 - Form NT
- MICS's page on the SEC website