Coffee Holding (JVA) to Raise $9.3M Through Registered Direct Unit Offering

Coffee Holding Co., Inc. (Nasdaq: JVA) has entered into a subscription agreement with certain institutional investors. Pursuant to the Subscription Agreement, the Company will sell up to 890,000 units, each consisting of one share of the Company's common stock and three-tenths of a warrant to purchase one share of common stock for a purchase price of $10.40 per unit (the "Offering"). The warrants will be exercisable beginning six months and one day after closing, will expire five years after becoming exercisable and will have an exercise price of $13.59 per share. Net proceeds of the Offering, after deducting placement agent fees and other estimated offering expenses payable by the Company are expected to be approximately $8.3 million. In addition, pursuant to the Subscription Agreement, a limited liability company of which Andrew Gordon (our President, Chief Executive Officer, Chief Financial Officer and Treasurer) is the sole owner and David Gordon (our Executive Vice President of Operation and Secretary), will sell up to 200,000 shares of common stock at a price of 9.92 per share (the "Selling Stockholder Offering"). In connection with the offerings, the Company and the selling stockholders entered into a placement agency agreement with Roth Capital Partners and Maxim Group LLC.

oth Capital Partners and Maxim Group LLC served as the placement agents for the Offering and Selling Stockholder Offering.

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