Mohawk Group Holdings, Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
We will receive no proceeds from the sale of the Shares by the Selling Stockholders. We may, however, receive cash proceeds equal to the total
exercise price of the February Warrant, the Additional Warrant or the April Warrants to the extent that any of such Warrants are exercised for cash. The exercise price of the February Warrant is $25.10. The exercise price of the Additional Warrant
is $33.56 per share. The exercise p rice of the April Warrants is $31.74. The exercise price of the Penny Warrant is $0.01 and it is only exercisable on a cashless basis, and we therefore will not receive any proceeds from any exercise of the Penny
Warrant. The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants may be adjusted in certain circumstances, including stock splits, dividends or distributions, or other similar transactions. However, the
February Warrant, the Additional Warrant and the April Warrants contain a cashless exercise feature that allow the holders to exercise any of such Warrants without making a cash payment to us if there is not an effective registration
statement covering the resale of the shares issuable upon exercise of such Warrants. There can be no assurance that any of the Warrants will be exercised by the Selling Stockholders at all. To the extent we receive proceeds from the cash exercise of
the February Warrant, the Additional Warrant or any of the April Warrants, we intend to use such proceeds to provide capital support or for general corporate purposes, which may include, without limitation, working capital, operating expenses,
capital expenditures, supporting asset growth and acquiring, investing in or licensing complementary products, technologies or businesses. We do not have any specific plans for acquisitions or other business combinations at this time. Our management
will retain broad discretion in the allocation of the net proceeds from any exercise of the February Warrant, the Additional Warrant or the April Warrants for cash.
The Selling Stockholders will pay any underwriting discounts, selling commissions or transfer taxes incurred in disposing of the Shares and the expenses of
any attorney or other advisor they decide to employ. We will bear all other costs, fees and expenses incurred in effecting the registration of the Shares covered by this prospectus. These may include, without limitation, all registration, filing,
stock exchange fees, printing expenses, all fees and expenses of complying with applicable securities laws and the fees and disbursements of our counsel and of our independent accountants and reasonable fees.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following: