OpenWorld prices $3.5M registered direct offering at $1.39 per share

OpenWorld, Inc. (NASDAQ: OPNW) announced the pricing of a $3.5 million registered direct offering, entering into a securities purchase agreement with a single institutional investor for the purchase and sale of 2,517,985 shares of common stock, or pre-funded warrants in lieu thereof, priced at-the-market under Nasdaq rules.

Each share and accompanying warrants are being sold at a combined purchase price of $1.39. The offering includes Series A warrants to purchase up to 2,517,985 shares at an exercise price of $1.53 per share, expiring five years from the date of shareholder approval, and Series B warrants to purchase up to 2,517,985 shares at an exercise price of $1.39 per share, expiring 18 months from the date of shareholder approval. Both warrant series are subject to shareholder approval.

The Series B warrants are callable by the company if the daily trading price of common stock exceeds 400% of the exercise price and average daily trading volume exceeds $1.0 million over ten consecutive trading days. Any portion of Series B warrants not exercised within ten trading days following a call notice will be cancelled.

The company stated it intends to use net proceeds for real-world asset growth initiatives, working capital, and general corporate purposes. Gross proceeds are expected to be approximately $3.5 million before placement agent fees and other offering expenses. The offering was expected to close on or about October 30, 2026, subject to customary closing conditions.

Maxim Group LLC is acting as sole placement agent for the offering.

The company also disclosed that on October 27, 2026, it closed its previously announced transaction with Blocksight Holdings Co. on previously disclosed terms.

The securities are being offered pursuant to a shelf registration statement on Form S-3 declared effective by the U.S. Securities and Exchange Commission on February 3, 2025.

You May Also Be Interested In

• BranchOut Food raises $5.75M after underwriters exercise over-allotment
• Canton Strategic Holdings plans to tokenize its Nasdaq shares
• CoSara HPV test study published in peer-reviewed journal