trending Market Intelligence /marketintelligence/en/news-insights/trending/hIpoxcjs1J5qbbcOqs9eeQ2 content esgSubNav
In This List

Cachet Financial to offer common shares

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Kensho Launches Word Error Rate Calculator

Blog

Insight Weekly: Bank oversight steps up; auto insurers’ dismal year; VC investment slumps

Blog

Bank failures: The importance of liquidity and funding data


Cachet Financial to offer common shares

Cachet Financial Solutions Inc. filed a registration statement for an offering of an undisclosed amount of its common shares.

The proposed maximum aggregate offering price is $13.8 million, estimated solely for the purposes of calculating the registration fee. The underwriters will be granted a 45-day option to purchase additional common shares.

The company intends to effect a reverse stock split of its common stock to facilitate the offering.

Cachet Financial's common stock is currently traded on the OTCQB marketplace under the symbol CAFN. The company has applied to list its common stock on the Nasdaq Capital Market under the symbol CAFN. The offering will only occur if Nasdaq approves the listing of the company's common stock.

Upon approval, the company expects to list its common stock on the Nasdaq Capital Market after completion of the offering and its common stock will cease to be traded on the OTCQB marketplace.

The company plans to use the net proceeds from the offering to repay outstanding debt, and for working capital and other general corporate purposes.