Xspand Products Lab Announces Pricing of $6.5 Million Initial Public Offering
DOYLESTOWN, Pa., May 01, 2018 (GLOBE NEWSWIRE) -- Xspand Products Lab, Inc. (“Xspand”), a full-service product development company, today announced the pricing of its initial public offering of approximately 1,301,385 shares of its common stock at a public offering price of $5.00 per share. All of the shares of common stock are being offered by Xspand. The shares are expected to begin trading on the NASDAQ Capital Market on May 1, 2018 under the ticker symbol “XSPL”.
The offering closed on April 30, 2018, subject to the satisfaction of customary closing conditions. Proceeds from the initial public offering will be used for partial consideration for potential acquisitions and general working capital.
Alexander Capital, L.P. is acting as the sole book-running manager for the offering.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities 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.
The offering will be made only by means of a prospectus. A copy of the final prospectus relating to this offering, when available, will be filed with the SEC and may also be obtained from Alexander capital, L.P., 17 State Street, 5th Floor, New York, NY 10004, Attn: Chris Carlin or via email at email@example.com.
About Xspand Products Lab, Inc.
Xspand Products Lab, Inc. is a vertically integrated and full-service product development and manufacturing company, including design, sales, fulfillment and shipping. Xspand's model is to provide a risk mitigated platform that connects innovators with companies to bring new products to market. For more information, please visit www.xspandproductslab.com.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Released May 1, 2018