Empery Digital prices 4.64M shares at $5.39 in registered direct offering

Empery Digital (EMPD) entered into a definitive agreement with a current institutional investor for the sale of 4,638,219 shares of common stock and 4,638,219 accompanying warrants to purchase shares of common stock, at a combined offering price of $5.39 per share and accompanying warrant, in a registered direct offering. This price represents 103% of NAV at the time of signing. The warrants will have an exercise price of $6.27 per share, will be exercisable immediately, and will expire four years following the date of issuance. The closing of the Offering is expected to occur on or about March 24, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Offering, in addition to cash on hand, to reduce outstanding debt by approximately $40M through the full repayment of the $50M outstanding Repo Facility and an incremental draw down of approximately $10M on the currently outstanding $100M credit facility with Two Prime. The Company did not engage any placement agent in connection with the Offering and therefore will not pay any placement fees.