Stable Road Acquisition Completes $5 Million Public Offering

On December 18, 2024, Stable Road Acquisition (OTCMKTS: SRACU) announced the successful closure of a public offering, raising approximately $5.0 million. The offering consisted of various securities sold to investors, including Class A common stock, Pre-Funded Warrants, and Common Stock purchase warrants.

The public offering included the sale of 230,000 shares of Class A common stock and 570,000 Pre-Funded Warrants, along with 800,000 Common Stock purchase warrants. Each share of Common Stock or Pre-Funded Warrant was accompanied by a Common Warrant to purchase one share of Common Stock. The offering price was set at $6.20 per share of Common Stock and associated Common Warrant.

The aggregate gross proceeds from the offering, before deduction of placement agents’ fees and other expenses, amounted to $5.0 million. Stable Road Acquisition intends to utilize these proceeds for general corporate purposes, including the repayment of debts.

The securities offered, including the Pre-Funded Warrants and Common Warrants, are exercisable at specified prices and have varying expiration dates. Investors are subject to restrictions on the ownership percentage of outstanding Common Stock upon exercising the warrants.

As part of the Offering, Stable Road Acquisition entered into a securities purchase agreement with a single institutional investor. The agreement includes provisions restricting the issuance of additional shares or common stock equivalents for a certain period and outlines obligations for executive officers, directors, and stockholders regarding the sale or transfer of securities.

Additionally, a placement agency agreement was established with A.G.P./Alliance Global Partners, the Placement Agent, to facilitate the offering. The Placement Agent received a cash fee, reimbursements for expenses, and warrants to purchase Common Stock.

Stable Road Acquisition filed registration statements with the Securities and Exchange Commission (SEC), enabling the sale of the offered securities. The Company issued press releases to disclose the pricing and closing of the Offering, providing further transparency to investors and the public.

After the completion of the Offering, Stable Road Acquisition has around 2,982,881 shares of Common Stock outstanding. The Company’s Form 8-K filing includes detailed descriptions of each security offered and the agreements associated with the Offering, available for reference.

For further information, investors and the interested public can access the complete details of the Offering in the filed documents and exhibits of Stable Road Acquisition’s Form 8-K submission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Stable Road Acquisition’s 8K filing here.

Stable Road Acquisition Company Profile

Stable Road Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in Venice, California.