SurgePays prices $2.5 million public offering at $1.25 per share

SurgePays Inc. (NASDAQ: SURG) priced its underwritten public offering of 2 million shares of common stock at $1.25 per share, generating gross proceeds of approximately $2.5 million before underwriting discounts and expenses.

The wireless and fintech company granted underwriters a 45-day option to purchase up to 300,000 additional shares at the same price to cover over-allotments. The offering is scheduled to close January 22, 2026, subject to customary closing conditions.

R.F. Lafferty & Co., Inc. serves as the sole book-running manager for the offering. The shares are being offered under a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on November 3, 2023.

SurgePays operates a point-of-sale platform in retail locations nationwide, providing mobile and financial services to subprime and underserved consumers. The company's infrastructure supports SIM activations, top-ups, and financial transactions for prepaid and underbanked customers.

The offering is being conducted through a prospectus supplement and accompanying prospectus filed with the SEC. Documentation is available on the SEC's website and through the underwriter.

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