Milestone Scientific (MLSS) 8-KEntry into a Material Definitive Agreement

 

 

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

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Item 1.01         Entry into a Material Definitive Agreement

 

On December 10, 2023, Milestone Scientific Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Maxim Group LLC, acting as sole underwriter and book-running manager (the “Underwriter”), for a public offering (the “Offering”) of an aggregate of 4,765,000 shares of common stock, par value $0.001 per share (the “Common Stock”) of the Company. The public offering price for each share of Common Stock was $0.63, and the Company sold the shares to the Underwriter at a 7.5% discount to the public offering price.

 

Pursuant to the overallotment option granted to the Underwriter in the Underwriting Agreement, on January 12, 2024, the Underwriter exercised the overallotment option as to 372,110 shares of Common Stock at the same price to cover over-allotments. The proceeds to the Company from the exercise of the overallotment, after underwriting discounts and commissions, was $216,847.

 

Item 7.01         Regulation FD Disclosure

 

The Company issued a press release on January 12, 2024, announcing the exercise of the overallotment option. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

 

Item 9.01     Financial Statements and Exhibits

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.