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Investment Banks That Helped MicroCap Uplists in Q3 2017

Uplisting from the OTC Markets to a senior US exchange, like the NASDAQ or NYSE Mkt, is the goal of many microcaps listed on the OTC Markets. About 100 of the thousands of issuers listed on the OTC make the jump every year.

To uplist to a senior exchange issuers must meet a series of listing criteria. For microcaps, one of the most common paths to meeting listing criteria is obtaining a minimum level of shareholders equity – a threshold that is usually met with an investment bank led registered offering.

In the third quarter of 2017, 4 of the 15 OTC uplists worked with investment banks to complete significant equity raises in connection with their uplists to senior exchanges. Below, we look at the issuers, investment banks, and investment terms of those four funding rounds. Aegis Capital Corp. played a role in 3 of the 4 raises.

MYnd Analytics, Inc. (NASDAQ: MYND) upilsted from the OTCQB to the NASDAQ in Q3. With Maxim Group LLC and Aegis Capital Corp. acting as joint book-running managers, and R.F. Lafferty & Co., Inc. acting as co-manager for the offering MYND executed an underwritten public offering of 1,675,000 shares of its common stock and accompanying warrants to purchase up to 1,675,000 shares of its common stock, at a combined public offering price of $5.25 per share and accompanying warrant, for a total offering size of $8,793,750.

Learn more HERE.

The Bank of Princeton (Nasdaq: BPRN) uplisted from the OTCPINK to the NASDAQ in Q3. With Sandler O’Neill + Partners, L.P. acting as sole book-running manager and Boenning & Scattergood, Inc. and FBR Capital Markets & Co., acting as co-managers closed an underwritten public offering of 1,725,000 shares of its common stock at a price to the public of $32.00 per share. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses, are approximately $55.2 million.

Learn more HERE.

Citius Pharmaceuticals Inc. (NASDAQ: CTXR) uplisted from the OTCPINK to the NASDAQ in Q3. With Aegis Capital Corp. acting as the sole book-running manager and Dawson James Securities, Inc. is acting as co-Manager CTXR executed an underwritten public offering of 1,648,484 shares of its common stock and warrants to purchase up to an aggregate of 1,648,484 shares of its common stock at a combined offering price of $4.125 per share. CTXR raised approximately $6,800,000.

Learn more HERE.

Eastside Distilling, Inc. (NASDAQ: ESDI) uplisted from the OTCQB to the NASDAQ in Q3. With Roth Capital Partners and Aegis Capital Corp. acting as the joint book-running managers, ESDI executed an underwritten public offering of 1,200,000 units consisting of 1,200,000 shares of its common stock and warrants to purchase up to an aggregate of 1,200,000 shares of its common stock at a public offering price of $4.50 per Unit with gross proceed of approx $5,400,000.

Learn more HERE.

This post’s data was provided by Acquis Capital, LLC. Learn more at www.acquiscapital.com