Sg Blocks, Inc. (SGBX) Announces Direct 3.16M Share Offering at $3.65/sh

October 25, 2021 8:31 AM EDT

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(Updated - October 25, 2021 8:38 AM EDT)

SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator and fabricator of modular structures, announced today it has entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 3,164,384 shares of its common stock (or common stock equivalents in lieu thereof in the form of pre-funded warrants) together with warrants to purchase up to 1,898,630 shares of common stock for gross proceeds of approximately $11.55 million. Each share of common stock and accompanying common warrant are being sold together at a combined offering price of $3.65, and each common stock equivalent and accompanying common warrant are being sold together at a combined offering price of $3.649. The common stock equivalents will be immediately exercisable at a nominal exercise price of $0.001 and will expire when exercised in full. The common warrants will have an exercise price of $4.80 per share, will be exercisable upon issuance and will expire five years from the date of an issuance.

The offering is expected to close on or about October 27, 2021, subject to customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-228882) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.



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