Manhattan Bridge Capital, Inc. (NasdaqCM: LOAN), or Manhattan Bridge Capital, a real estate finance company specializing in originating, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real estate, today announced the pricing of its previously announced underwritten public offering. The Company is offering 1,875,000 common shares, par value $0.001 per share, at a price to the public of $7.20 per share. In connection with the offering, the Company has also granted the underwriter a 30-day option to purchase up to an additional 281,250 common shares offered in the public offering, at the same public offering price per share, less underwriting discounts and commissions, to cover over-allotments, if any.

The Company expects to receive gross proceeds from the offering of $13,500,000, before deducting underwriting discounts and commissions and other offering-related expenses, not including any potential exercise of the underwriter’s option to purchase additional common shares. The Company intends to use the net proceeds from the offering primarily to reduce the outstanding balance of its existing credit line, and in the event that additional proceeds remain, to increase its loan portfolio and for general corporate purposes and working capital. The offering is expected to settle and close on July 9, 2021, subject to the satisfaction or waiver of customary closing conditions.

B. Riley Securities, Inc. is serving as the sole book-running manager for the offering.

The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-256396), which was initially filed with the Securities and Exchange Commission (“SEC”) on May 21, 2021 and declared effective by the SEC on June 1, 2021.

A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC. A final prospectus supplement describing the terms of the offering will be filed with the SEC. Any offer will be made only by means of a prospectus supplement and accompanying base prospectus forming a part of the effective registration statement. Before investing, you should read the prospectus supplement and the accompanying base prospectus, as may be further supplemented by any free writing prospectus and/or pricing supplement and other documents that the Company has filed or will file with the SEC, for information about the Company and this offering. Copies of the preliminary and final prospectus supplement and the accompanying base prospectus may be obtained, when available, at the SEC’s website at www.sec.gov, or by contacting the book-running manager by telephone at (703) 312-9580, or by email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Manhattan Bridge Capital, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.