Nixxy (NIXX) filed a prospectus with the US Securities and Exchange Commission on Thursday to sell up to 20 million shares of common stock at an assumed offering price of $3.21 per share.
The company estimates net proceeds of about $64.3 million from the offering and plans to use the proceeds for working capital, strategic and general corporate purposes.
Nixxy said the offering will last for one year or until the company decides to end it earlier.
The securities purchased in the offering will have one closing date and the price will remain fixed throughout the offering, according to the company.
Shares of Nixxy were up more than 19% in recent trading.
Price: 4.08, Change: +0.66, Percent Change: +19.30
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