Signing Day Sports, Inc. (NYSE American: SGN) (the "Company"), developer of the Signing Day Sports app and platform service for high school athletes in the college recruitment process today announced the pricing of its initial public offering (the "Offering") of 1,200,000 shares of common stock at a price to the public of $5.00 per share for gross Offering proceeds of $6,000,000. The shares are expected to begin trading on the NYSE American LLC stock exchange on November 14, 2023, under the symbol "SGN".
The Offering is expected to close on November 16, 2023, subject to the satisfaction of customary closing conditions. Net proceeds to the Company, after deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $4.8 million. The Company intends to use the net Offering proceeds for the development and commercialization of its technology platform, expansion of its sales team and marketing efforts, and working capital and general corporate purposes.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 180,000 shares, at the Offering price, less underwriting discounts and commissions.
Boustead Securities, LLC is acting as the sole book-running manager for the Offering.
Bevilacqua PLLC is acting as U.S. legal counsel to the Company and Anthony L.G., PLLC is acting as legal counsel to Boustead Securities, LLC for the Offering.
The Offering is being conducted pursuant to the Company's Registration Statement on Form S-1 (File No. 333-271951) previously filed with, and subsequently declared effective on November 13, 2023, by the U.S. Securities and Exchange Commission (the "SEC"). The Offering is being made only by means of a prospectus. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Boustead Securities, LLC, 6 Venture, Suite 395, Irvine, California 92618, by phone at +1-949-502-4408 or by email at offerings@boustead1828.com.
