Kaspien (KSPN) Sells 416K Shares at $32.50 in Bought Deal

Kaspien Holdings Inc. (Nasdaq: KSPN) entered into an underwriting agreement with Aegis Capital Corp. under which the underwriter has agreed to purchase, on a firm commitment basis, 416,600 shares of common stock of the Company, at a price to the public of $32.50 per share. The closing of the offering is expected to occur on or about March 18, 2021, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital to implement its strategic plans focused on brand acquisition, investments in technology to enhance its scalable platform and its core retail business.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

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