Newgioco Group (NWGI) Prices 4.167M Unit Common Offering at $2.40/Unit

Newgioco Group, Inc. (NASDAQ: NWGI) today announced the pricing of its underwritten public offering of 4,166,666 units at a price to the public of $2.40 per unit. Each unit issued in the offering consists of one share of common stock and one warrant to purchase one share of common stock. The shares of common stock and warrants are immediately separable from the units and will be issued separately. Newgioco expects to receive gross proceeds of $10.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

The warrants are immediately exercisable for one share of common stock at an exercise price of $2.50 per share and will expire five years from issuance. The offering is expected to close on August 17, 2020, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering.

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