Alfi (ALF) IPO Opens 10% Lower

Today's IPO for Alfi, Inc. (NASDAQ: ALF) opened for trading at $3.75 after pricing 3,731,344 shares of common stock and warrants to purchase 3,731,344 shares of common stock at a public offering price of $4.15 per share and warrant for aggregate gross proceeds of approximately $15.5 million.

Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as sole book-running manager for the offering. Revere Securities LLC and WestPark Capital, Inc. are acting as co-managers for the offering.

Alfi, Inc., led by Paul Pereira, provides solutions that bring transparency and accountability to the digital out of home advertising marketplace. Since 2018, Alfi, Inc. has been developing its platform that uses artificial intelligence and machine learning to deliver targeted advertising in an ethical and privacy-conscious manner.

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