UNITED STATES
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FORM
CURRENT REPORT
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Item 8.01. Other Events.
As previously reported on a Current Report on Form 8-K, on January 22, 2024, SurgePays, Inc., a Nevada corporation (the “Company”) consummated the sale of 2,678,571 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Offering”) pursuant to an underwriting agreement (the “Underwriting Agreement”) with Titan Partners Group, LLC, a division of American Capital Partners, LLC, as representative of the underwriters named therein (the “Underwriters”). Under the terms of the Underwriting Agreement, the Company granted the Underwriters an option, exercisable for 45 days, to purchase up to an additional 401,785 shares of common stock at the public offering price of $5.60 (the “Over-Allotment Option”). On February 12, 2024, the Company closed on the full Over-Allotment Option resulting in additional gross proceeds to the Company of approximately $2.25 million, before deducting underwriting discounts, commissions and estimated offering expenses. After giving effect to the full exercise of the Overallotment Option, a total of 3,080,356 shares of common stock have been issued and sold in the Offering, and the gross proceeds from the Offering, including the full exercise of the Overallotment Option, before deducting underwriting discounts, commissions and estimated offering expenses, was approximately $17.25 million.
SIGNATURE
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.
SURGEPAYS, INC. | ||
Date: February 12, 2024 | By: | /s/ Kevin Brian Cox |
Kevin Brian Cox | ||
Chief Executive Officer |