LogicMark Prices $14.4 Million Public Offering, Plans Special Stockholder Meeting to Vote on Reverse Stock Split

MT Newswires Live2025-02-18

LogicMark (LGMK) said Tuesday it priced a public offering of about 2.3 million units and 22.1 million pre-funded units at $0.59 apiece for gross proceeds of $14.4 million.

Each unit consisted of one share or one pre-funded warrant, one series C warrant and one series D warrant. The series C and D warrants will be exercisable only with stockholder approval and, if necessary, a charter amendment for a reverse stock split or share increase, LogicMark said.

The company said it intends to use the net proceeds from the offering, slated to close Tuesday, for sales, marketing, working capital, and general corporate purposes.

LogicMark said it will hold a special stockholder meeting on March 24 to vote on a reverse stock split, the issuance of 20% or more of its common shares in connection with its public offering, and an increase in authorized shares. Stockholders of record as of Tuesday are eligible to vote, the company added.

Shares of LogicMark were down more than 46% in recent Tuesday trading.

Price: 0.32, Change: -0.27, Percent Change: -46.49

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