Manhattan Bridge Capital Announces Closing of Proposed Public Offering of Common Shares
GREAT NECK, NY, July 09, 2021 (GLOBE NEWSWIRE) – Manhattan Bridge Capital, Inc. (NasdaqCM: LOAN), or Manhattan Bridge Capital, a real estate finance company specializing in the creation, financing, management and management of ” a portfolio of short-term loans secured by first mortgage privileges on real estate, today announced the closing of its previously announced subscribed public offering of 1,875,000 common shares, with a par value of $ 0.001 per share, at a public price of $ 7.20 per share. As part of the offer, the Company also granted the underwriter a 30-day option to purchase up to 281,250 additional ordinary shares offered under the public offer, at the same public offering price per share. , less underwriting discounts and commissions, to cover over-allotments, if applicable. The Company intends to use the net proceeds of the offering primarily to reduce the outstanding balance on its existing line of credit and, if additional proceeds remain, to increase its loan portfolio and for general corporate purposes. the business and its working capital.
B. Riley Securities, Inc. is the sole accounting manager of the Offering.
The offering of these securities is being made in accordance with a current registration statement on Form S-3 (File No. 333-256396), which was originally filed with the Securities and Exchange Commission (“SEC”) on May 21, 2021 and declared effective by the SEC on June 1, 2021.
A final prospectus supplement describing the terms of the offering was filed with the SEC and was part of the actual registration statement. Copies of the Prospectus Supplement and accompanying Base Prospectus can be obtained by contacting the Bookkeeper by telephone at (703) 312-9580 or by e-mail at email@example.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Manhattan Bridge Capital, and does not constitute an offer, solicitation or sale of securities in any state or jurisdiction in which such offering, soliciting or selling would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Manhattan Bridge Capital
Manhattan Bridge Capital, Inc. offers short-term secured non-bank loans (sometimes referred to as “hard money” loans) to real estate investors to finance the acquisition, renovation, rehabilitation or improvement of properties located in New York City. . metropolitan area, including New Jersey and Connecticut, and Florida. We operate the website: https://www.manhattanbridgecapital.com.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Since these statements deal with future events and are based on Manhattan Bridge Capital’s current expectations, they are subject to various risks and uncertainties and the actual results, performance or achievements of Manhattan Bridge Capital could differ materially from those described or under – understood by the statements contained in this press release. For example, forward-looking statements include statements regarding the potential exercise by the underwriter of its over-allotment option to purchase additional shares and the intended use of the net proceeds of the offering. Forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions and the satisfaction of customary closing conditions associated with the proposed offering, and other risk factors discussed. in Manhattan Bridge Capital’s annual report on Form 10 -K for the fiscal year ended December 31, 2020, filed with the SEC and in subsequent filings with the SEC. Except as otherwise provided by law, Manhattan Bridge Capital disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date on which they were made, whether as a result of new information, future events or circumstances or otherwise. .
CONTACT: Contacts: Assaf Ran, CEO (516) 444-3400 SOURCE: Manhattan Bridge Capital, Inc.