NeoVolta prices 2.1M shares at $4.76 in registered direct offering

NeoVolta (NEOV) announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 2,100,841 shares of common stock at a purchase price of $4.76 per share in a registered direct offering. The closing of the registered direct offering is expected to occur on or about January 26, subject to the satisfaction of customary closing conditions. Needham & Company acted as sole placement agent in the registered direct offering. The aggregate gross proceeds to the Company from the offering are expected to be approximately $10M, before deducting offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.