MamaMancini’s Announces Pricing of the Public Secondary Offering of Common Stock by Selling Stockholders
22 June 2023 - 10:00PM
MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a leading national
marketer and manufacturer of fresh Deli prepared foods, today
announced the pricing of an underwritten public secondary offering
of 6,281,085 shares of its common stock by certain selling
stockholders affiliated with Carl T. Wolf (the “Selling
Stockholders”) at a price to the public of $2.50 per share. In
addition, the Selling Stockholders have granted the underwriters of
the offering a 30-day option to purchase up to 942,163 additional
shares of common stock at the public offering price, less
underwriting discounts and commissions. MamaMancini’s is not
selling any shares in the offering, nor will MamaMancini’s receive
any of the proceeds from the sale of the shares being offered by
the Selling Stockholders. The Selling Stockholders will bear the
costs associated with the sale of such shares, including
underwriting discounts and commissions. The offering is expected to
close on or about June 26, 2023, subject to customary closing
conditions.
Lake Street Capital Markets, LLC is acting as
sole book-running manager for this offering.
A registration statement on Form S-3 (including
a prospectus and a preliminary prospectus supplement describing the
offering) relating to the public offering of the shares of common
stock described above was filed with the Securities and Exchange
Commission (“SEC”) and was declared effective on June 12, 2023. A
preliminary prospectus supplement describing the terms of the
offering has been filed with the SEC and is available on the SEC’s
website at www.sec.gov. Copies of the final prospectus supplement
and the accompanying prospectus relating to the offering may be
obtained, when available, from Lake Street Capital Markets, LLC,
Attention: Syndicate Department, 920 Second Avenue South, Suite
700, Minneapolis, Minnesota 55402, or by calling (612) 326-1305, or
by emailing syndicate@lakestreetcm.com; or at the SEC’s website at
http://www.sec.gov.
This press release shall not constitute an offer
to sell, or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About MamaMancini’s Holdings,
Inc.
MamaMancini's Holdings, Inc. (NASDAQ: MMMB) is a
leading marketer and manufacturer of prepared foods with over
45,000 product placements in grocery, mass, club and convenience
stores nationally. The Company’s broad product portfolio, born from
a rich history in Italian foods, now consists of a variety of high
quality, fresh, clean and easy to prepare foods to address the
needs of both our consumers and retailers. Our vision is to become
a one-stop-shop deli solutions platform, leveraging vertical
integration and a diverse family of brands to offer a wide array of
prepared foods to meet the changing demands of the modern consumer.
For more information, please visit www.mamamancinis.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995, as amended, that involve significant risks and
uncertainties about MamaMancini’s, including but not limited to
statements with respect to the completion, timing, and size of the
proposed underwritten offering of common stock. MamaMancini’s may
use words such as “expect,” “anticipate,” “project,” “intend,”
“plan,” “aim,” “believe,” “seek,” “estimate,” “can,” “focus,”
“will,” and “may” and similar expressions to identify such
forward-looking statements. Among the important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements are risks relating to, among other
things, whether or not MamaMancini’s will be able to raise capital,
the final terms of the underwritten offering of common stock,
market and other conditions, the satisfaction of customary closing
conditions related to the underwritten offering of common stock,
MamaMancini’s business and financial condition, and the impact of
general economic, public health, industry or political conditions
in the United States or internationally. For additional disclosure
regarding these and other risks faced by MamaMancini’s, see
disclosures contained in MamaMancini’s’s public filings with the
SEC, including the “Risk Factors” in the company’s Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q, and prospectus
supplement for this offering. You should consider these factors in
evaluating the forward-looking statements included in this press
release and not place undue reliance on such statements. The
forward-looking statements are made as of the date hereof, and
MamaMancini’s undertakes no obligation to update such statements as
a result of new information, except as required by law.
Investor Relations Contact:Lucas A.
ZimmermanDirectorMZ Group - MZ North America(949)
259-4987MMMB@mzgroup.us www.mzgroup.us
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