Sharps Compliance Corp. Closes $17.9 Million Underwritten Public Offering of Common Stock
Houston, TX – August 30, 2021 – Sharps Compliance Corp. (Nasdaq: SMED) (the “Company”) today announced the closing of its previously announced underwritten public offering of a total of 2,070,000 shares of its common stock at a public offering price of $8.65 per share, including the exercise in full by the underwriter of its option to purchase an additional 270,000 shares to cover over-allotments in connection with the offering. After the underwriting discount and before estimated offering expenses payable by the Company, the Company received net proceeds of approximately $17.0 million.
Roth Capital Partners is acting as sole manager for the offering.
Sharps Compliance Corp. intends to use the net proceeds from this offering for the acquisition of companies, businesses, or assets, as well as for general corporate purposes.
The offer and sale of the shares of common stock, as described above, have been registered under a shelf registration statement previously filed with and declared effective on June 30, 2021 by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the final prospectus supplement and the accompanying base prospectus relating to this offering may be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC’s website, www.sec.gov.
About Sharps Compliance Corp.
Sharps Compliance Corp. is a leading national healthcare waste management provider specializing in regulated waste streams including medical, pharmaceutical and hazardous. Our services facilitate the safe and proper collection, transportation and environmentally-responsible treatment of regulated waste from customers in multiple healthcare-related markets. The markets we manage are small to medium-size healthcare waste generators including professional offices (ambulatory surgical centers, physician groups, dentists and veterinarians), long-term care facilities, government agencies, home health care, retail clinics and immunizing pharmacies. Additionally, our mailback solutions are positioned to manage waste generated in the home setting such as sharps, lancets and ultimate-user medications which generates business relationships with pharmaceutical manufacturers and other markets to provide safe and proper disposal. Lastly, we maintain a strong distribution network for the sale of our solutions within the aforementioned markets.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed public offering and the intended use of proceeds from the offering. When used in this press release, the words “believes,” “plans,” “expects,” “will,” “intends,” and “anticipates” and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. These forward-looking statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management and subject to risks and uncertainties that may cause actual results to differ materially, including competitive factors, general economic conditions, customer relations, relationships with vendors, governmental regulation and supervision, seasonality,
distribution networks, product introductions and acceptance, technological change, changes in industry practices, onetime events, the impact of the coronavirus COVID-19 pandemic and other risks detailed from time to time in our most recent Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission, including the “Risk Factors” section of the final prospectus supplement, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.