Schiff Hardin LLP advised Orbsat Corp on the deal. Harter Secrest & Emery LLP acted for Maxim Group LLC.
Orbsat (OTCQB:OSAT) has priced its upsized public offering of 2.88M units at $5.00 per unit, for gross proceeds of $14.4M and adjusted to give effect to the reverse stock split at a ratio of 1-for-5.
Each unit consists of one share of common stock and one warrant to purchase one share of common stock at $5.00.
The common stock and warrants are expected to begin trading today on the Nasdaq.
Underwriter over-allotment is an additional 432K shares of common stock and/or warrants to purchase up to 432K shares.
Maxim Group LLC acted as underwritten uplisting of Orbsat Corp from the OTCQB to the Nasdaq Capital Market.
The Schiff Hardin team included Ralph V. De Martino (Picture) and Heather H. Sanborn.
The HSE Securities and Capital Markets team for the transaction included Alexander R. McClean, Sarah H. Brennan, Margaret K. Rhoda, and Mary C. Hamilton.
Involved fees earner: Sarah Brennan – Harter Secrest & Emery; Mary Hamilton – Harter Secrest & Emery; Alexander McClean – Harter Secrest & Emery; Margaret Rhoda – Harter Secrest & Emery; Ralph De Martino – Schiff Hardin LLP; Heather Sanborn – Schiff Hardin LLP;