SCOTTSDALE, Ariz. and NEW YORK, Nov. 16,
2023 /PRNewswire/ -- 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 closing of its initial
public offering of 1,200,000 shares of common stock at a public
offering price of $5.00 per share for
gross proceeds of $6,000,000, before
deducting underwriting discounts, commissions, and offering
expenses payable by the Company. After deducting underwriting
discounts, commissions and offering expenses, the Company received
net proceeds of approximately $4.8
million. The Company has granted the underwriters a 45-day
option to purchase up to an additional 180,000 shares of common
stock to cover over-allotments at the initial public offering
price, less underwriting discounts, commissions, and other offering
expenses.
The Company's common stock began trading on the NYSE American
exchange on November 14, 2023, under
the symbol "SGN."
Boustead Securities, LLC acted as sole underwriter for the
offering.
The offering was made only by means of a prospectus and pursuant
to a registration statement on Form S-1, as amended (File No.
333-271951), which was filed with the U.S. Securities and Exchange
Commission ("SEC") and subsequently declared effective by the SEC
on November 13, 2023. Copies of the
final prospectus are available on the SEC website at www.sec.gov,
or may be obtained from Boustead Securities, LLC, Attn: Equity
Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA, by telephone at +1 (949) 502-4408 or
emailing offerings@boustead1828.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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.
Bevilacqua PLLC served as legal counsel to the Company and
Anthony L.G., PLLC served as legal counsel to Boustead Securities,
LLC for the initial public offering.
About Signing Day Sports:
Signing Day Sports' app allows student-athletes to build their
Signing Day Sports recruitment profile, which includes information
college coaches need to evaluate and verify them through video
technology. The Signing Day Sports app includes a platform to
upload a comprehensive data set including video-verified
measurables (such as height, weight, 40-yard dash, wingspan, and
hand size), academic information (such as official transcripts and
SAT/ACT scores), and technical skill videos (such as game day as
well as training videos).
Forward-Looking Statements
This press release contains "forward-looking statements" that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as "may," "could," "will," "should," "would," "expect,"
"plan," "intend," "anticipate," "believe," "estimate," "predict,"
"potential," "project" or "continue" or the negative of these terms
or other comparable terminology. These statements are only
predictions. You should not place undue reliance on forward-looking
statements because they involve known and unknown risks,
uncertainties and other factors, including without limitation, the
Company's ability to obtain additional funding to develop
additional services and offerings, market acceptance of the
Company's offerings, competition from existing online offerings or
new offerings that may emerge, impacts from strategic changes to
the Company's business on the Company's net sales, revenues, income
from continuing operations, or other results of operations, the
Company's ability to attract new users and customers, increase the
rate of subscription renewals and slow the rate of user attrition,
the Company's ability and third parties' abilities to protect
intellectual property rights, the Company's ability to adequately
support future growth, the Company's ability to comply with user
data privacy laws and other current or anticipated legal
requirements, the Company's ability to attract and retain key
personnel to manage its business effectively, and other risks
and uncertainties that are described more fully in the
section titled "Risk Factors" in the final prospectus related to
the initial public offering filed with the SEC and other reports
filed with the SEC thereafter. These risks and uncertainties are,
in some cases, beyond the Company's control and could materially
affect results. If one or more of these risks or uncertainties
occur, or if the Company's underlying assumptions prove to be
incorrect, actual events or results may vary significantly from
those implied or projected by the forward-looking statements. No
forward-looking statement is a guarantee of future performance.
Forward-looking statements contained in this announcement are made
as of this date, and the Company undertakes no duty to update such
information except as required under applicable law.
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SOURCE Signing Day Sports