Star Equity Holdings (STRR) Prices 9.5M Share and Warrant Offering at $1.50/sh

Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) today announced the pricing of an underwritten public offering of 9,500,000 shares of its common stock and warrants to purchase up to 9,500,000 shares of the Company’s common stock. Each share of common stock is being sold together with one common warrant to purchase one share of common stock at a price of $1.50 per share and common warrant. Gross proceeds, before deducting underwriting discounts and offering expenses, are expected to be approximately $14.25 million.

The common warrants will be immediately exercisable at a price of $1.50 per share of common stock and will expire five years from the date of issuance. The shares of common stock (or pre-funded warrants in lieu thereof) and the accompanying common warrants can only be purchased together in the offering but will be issued separately. The offering is expected to close on or about January 24, 2022, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering.

Star Equity also has granted to the underwriter a 45-day option to purchase up to an additional 1,425,000 shares of common stock and/or common warrants to purchase up to an additional 1,425,000 shares of common stock, at the public offering price less underwriting discounts.

The offering is being conducted pursuant to the Company's registration statement (the “Registration Statement”) on Form S-1 (File No. 333-261957) previously filed with, and subsequently declared effective by, the Securities and Exchange Commission ("SEC"). A prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745. Before investing in this offering, interested parties should read in their entirety the Registration Statement and accompanying prospectus, and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus, which provides more information about the Company and such offering.

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

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