Meta Materials (MMAT) Announces Proposed Public Offering

Meta Materials Inc. (the "Company" or "META�") (NASDAQ: MMAT), (FSE: MMAT), a developer of high-performance functional materials and nanocomposites, today announced that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares and/or warrants to purchase shares of its common stock at the public offering price, less underwriting discounts and commissions. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Ladenburg Thalmann & Co. Inc. and A.G.P./Alliance Global Partners are acting as joint bookrunning managers for the offering. Cormark Securities Inc. is expected to be participating as a member of the selling group.

META intends to use the net proceeds from the offering for working capital and general corporate purposes, which include, but are not limited to: on-going development of our existing and future products, (such as our advanced materials NPORE� and NCORE™ for Li-ion battery applications, electro-optical devices, the expansion of our manufacturing facilities and capital equipment purchases), as well as general and administrative expenses.

A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the "SEC") and is effective. A preliminary prospectus supplement relating to the offering has also been filed with the SEC and is available on the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4^th Floor, New York, New York 10019, or by email: [email protected], from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28^th Floor, New York, NY 10022, by telephone at (212) 624-2060, or by email at [email protected] or by accessing the SEC's website at www.sec.gov.

You May Also Be Interested In

• Standard Nuclear launches IPO roadshow targeting up to $21 per share
• EMA begins phased review of Revolution Medicines' daraxonrasib
• Envirotech Vehicles completes merger with Azio AI, names new CEO