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Five Investment Banks Helped OTC MicroCaps Uplist in Q4 2017

Uplisting from the OTC Markets to a senior US exchange, like the NASDAQ or NYSE American, is the goal of many microcap public companies trading on the OTC Markets. About one hundred out 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. MicroCap issuers usually meet the shareholders equity threshold through a registered offering led by one or more investment banks.

In the fourth quarter of 2017, three of the fifteen OTC Graduates worked with investment banks to complete significant equity raises in connection with their uplists to senior exchanges. Combined, these three issuers raised $25.5 million.

Below, we look at the issuers, investment banks, and investment terms of those four funding rounds. Maxim Group played a role in two of the three raises.

RumbleOn, Inc. (NASDAQ: RMBL) uplisted from the OTCQB to the Nasdaq in the fourth quarter of 2017. With Roth Capital Partners and Maxim Group LLC acting as joint book-running managers and Aegis Capital Corp. acting as co-manager for the offering, RMBL closed an underwritten public offering of 2,910,000 shares of its Class B common stock at a price of $5.50 per share for a total raise of $14.5 million.

Learn more HERE. 

NanoVibronix, Inc. (NASDAQ: NAOV) uplisted from the OTCQB to the Nasdaq in the fourth quarter of 2017. With Dawson James Securities, Inc. serving as the sole bookrunner, NAOV closed an underwritten public offering of 1,224,488 shares of its common stock (or common stock equivalents) and warrants to purchase up to 918,366 shares of common stock at a price of $4.90 per share and 0.75 warrant for a total raise of $6 million.

Learn more HERE.

Dolphin Entertainment, Inc. (NASDAQ: DLPN) uplisted from the OTCPINK to the Nasdaq in the fourth quarter of 2017. With Maxim Group LLC and Ladenburg Thalmann & Co. Inc. acting as joint book-running managers, DLBN sold 1,215,000 units (of one share of common stock and one warrant) at a price of $4.125 per unit for a total raise of $5 million.

Learn more HERE. 

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