TOMI Environmental files $50 million shelf registration with SEC

TOMI Environmental Solutions Inc. (NASDAQ: TOMZ) filed a $50 million universal shelf registration statement on Form S-3 with the Securities and Exchange Commission, the company announced.

The registration statement will allow TOMI to offer and sell securities up to the aggregate amount described in the filing once declared effective by the SEC. The Frederick, Maryland-based disinfection and decontamination company said the shelf registration provides financial flexibility to access capital for operational growth, product development and strategic initiatives.

TOMI entered into a strategic advisory and placement arrangement with Bancroft Capital and established an equity line of credit facility with Hudson Global Ventures LLC. The equity line of credit provides TOMI the right to sell up to $20 million of its common stock to Hudson Global Ventures over a 24-month period.

"This equity line of credit provides us with added financial flexibility to support our growth," said Dr. Halden Shane, chief executive officer. "In Q3 we saw strong sequential revenue growth, improved gross margins and expanding customer adoption of our SteraMist technology and this financing allows us to strategically accelerate investments in innovation, manufacturing efficiency, and global distribution."

TOMI provides environmental solutions for indoor surface disinfection through its Binary Ionization Technology platform. The company's technology utilizes hydrogen peroxide to produce a disinfecting aerosol marketed under the SteraMist brand.

The company serves commercial structures including hospitals, cruise ships, office buildings, hotels, schools, restaurants and food processing facilities. TOMI products have also been used in residential settings.

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