NeoVolta Launches Underwritten Share Offering with 15% Overallotment Option
NEOV•NeoVolta plans an underwritten offering of common shares and pre-funded warrants, granting underwriters a 30-day option for up to 15% additional securities on the same terms. The sale will use its effective Form S-3 shelf registration and is subject to market conditions.
1. Terms of the Offering
NeoVolta intends to sell a combination of common stock and pre-funded warrants in an underwritten public offering. Underwriters will have a 30-day option to purchase up to 15% additional securities on the same terms to cover over-allotments.
2. Underwriting and Registration
Lake Street Capital Markets, LLC is acting as the sole book-running manager for the transaction. The offering is being made under NeoVolta’s existing effective S-3 shelf registration, declared effective by the SEC on June 28, 2024.
3. Potential Market Impact
The final size and pricing of the offering remain subject to market conditions with no assurance of completion. Investors may see near-term dilution pressure until the offering is priced and closed.
