ALT5 Sigma to sell 100M shares at $7.50 in registered direct offering

ALT5 Sigma Corporation (ALTS)announced that it has entered into definitive agreements for the issuance and sale of an aggregate of up to 100,000,000 of its shares of common stock in a registered direct offering at a purchase price of $7.50 per share. In a concurrent private placement, the company has entered into a securities purchase agreement for the purchase and sale of 100,000,000 of its shares of common stock, at the same purchase price of $7.50 per share as in the registered direct offering. The gross proceeds of the offerings are expected to be approximately $1.5B, before deducting placement agent fees and other offering expenses. The consideration paid for the securities in the private placement offering was contributed in the form of $WLFI tokens from World Liberty Financial. The offerings were priced at-the-market pursuant to Nasdaq rules. World Liberty Financial is acting as the lead investor in the concurrent private placement offering, and the offerings included participation by a select number of the world’s largest institutional investors and prominent crypto venture capital firms. The closing of the offerings is expected to occur on or about August 12 subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds of the offerings to fund the acquisition of $WLFI tokens, to establish the company’s cryptocurrency treasury operations, as well as to settle existing litigation, pay existing debt, fund the existing company’s business operations and for working capital and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent in connection with the offerings.