ToughBuilt Industries Announces Separate Trading of its Common Stock and Series A Warrants Commencing December 3, 2018
LAKE FOREST, Calif., Nov. 28, 2018 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TLBTU; TBLT; TBLTW), a leading designer, manufacturer and distributor of innovative tools and accessories to the building industry, announces that commencing on Monday, December 3, 2018 the holders of the units sold in the Company's initial public offering may elect to separately trade the common stock and Series A warrants included in the units. Units that are not separated will continue to trade on The NASDAQ Capital Market ("NASDAQ") under the symbol "TBLTU." The common stock and the Series A warrants that are separated are expected to trade on NASDAQ under the symbols "TBLT" and "TBLTW," respectively.
Holders of units wishing to commence separate trading of the unit’s common stock and Series A warrants on December 3, 2018, or thereafter, should have their broker representative contact the Company's transfer agent in order to effect the separation: VStock Transfer, LLC, 18 Lafayette Place, Woodmere, NY 11598, or by telephone: (212) 828-8436.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on November 8, 2018.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 of these securities under the securities laws of any such state or jurisdiction. A copy of the final prospectus relating to the offering may be obtained for free by visiting the SEC website at www.sec.gov. Alternatively, a copy of the prospectus related to this offering may be obtained from Maxim Group LLC, 405 Lexington Ave, New York, NY 10174, Attn: Prospectus Department or by telephone: (800) 724-0761.
About ToughBuilt Industries, Inc.
ToughBuilt is a leading designer, manufacturer and distributor of innovative tools and accessories to the building industry. We market and distribute various home improvement and construction product lines for both the do-it-yourself and professional markets under the TOUGHBUILT® brand name, within the global multibillion dollar per year tool market industry. All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.
This press release contains certain forward-looking statements, including statements with regard to the ability of holders of the units sold in the Company's initial public offering to separately trade the ordinary shares and warrants included in the units. Words such as “expects,” “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of the Company, including, without limitation, failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement, in the form last filed with the SEC. ToughBuilt undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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Released November 28, 2018