Aterian (ATER) Prices $20 Million Registered Direct Offering of Common Stock, Warrants

Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today announced the pricing of a registered direct offering of 10,526,368 shares of its common stock (or, in lieu of shares of common stock, pre-funded warrants to purchase common stock (the “pre-funded warrants”)) and accompanying warrants to purchase 10,526,368 shares of its common stock. Each share of common stock and accompanying warrant will be sold at a combined offering price of $1.90 (minus $0.0001 for pre-funded warrants). The pre-funded warrants will have an exercise price of $0.0001 per share of common stock. The accompanying warrants are exercisable six months from closing for a period of 5 years at an exercise price of $2.00 per share.

The offering is being led by existing shareholder Armistice Capital Master Fund Ltd.

In addition, the Company’s Co-Founder and Chief Executive Officer, Yaniv Sarig; Chief Financial Officer, Arturo Rodriguez; Chief Legal Officer and Global Head of M&A, Joe Risico; and Chief Technology Officer, Roi Zahut are purchasing an aggregate of 116,666 shares of the Company’s common stock and accompanying warrants to purchase 116,666 shares of its common stock. Each share of common stock and accompanying warrant purchased by insiders will be sold at a combined offering price of $2.10.

The gross proceeds to the Company from this offering are expected to be approximately $20.2 million before deducting offering expenses payable by the Company.

Aterian intends to use the net proceeds from the offering for working capital purposes, the conduct of its business and other general corporate purposes, which may include acquisitions, investments in or licenses of complementary products, technologies or businesses. The offering is expected to close on or about October 4, 2022, subject to the satisfaction of customary closing conditions.

Craig-Hallum Capital Group LLC is acting as exclusive placement agent for the registered direct offering.

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