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BERKELEY, Calif. - Bolt Projects Holdings, Inc. (NASDAQ:BSLK), a developer of biomaterials for the beauty and personal care industry, has entered into definitive agreements to sell 913,979 shares of common stock at $4.65 per share in a private placement priced at-the-market under Nasdaq rules. The company, currently trading at $8.50 with a market capitalization of approximately $17 million, has seen its stock price fluctuate significantly this year, according to InvestingPro data.
The private placement, expected to close on or about August 15, is anticipated to generate approximately $4.25 million in gross proceeds before deducting placement agent fees and other offering expenses. Rodman & Renshaw LLC is serving as the exclusive placement agent for the transaction.
According to the company’s statement, the net proceeds will be used for working capital and other general corporate purposes.
The securities are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Securities Act or applicable state securities laws. The company has agreed to file a resale registration statement covering the securities.
Bolt Projects develops biomaterials for the beauty and personal care industry, focusing on its Vegan Silk Technology Platform that produces b-silk and other fully vegan and biodegradable ingredients. The company’s products have been on the market since 2019, and its intellectual property portfolio includes 77 granted patents and 118 pending patent applications.
The announcement was made in a press release issued by the company.
In other recent news, Bolt Projects Holdings Inc announced a discounted share offering, which has significant implications for current shareholders. The company has entered into a securities purchase agreement to sell 913,979 shares of common stock at $4.65 per share. This price represents a substantial discount compared to its previous trading price. The offering is anticipated to close on August 15, 2025, and aims to raise approximately $4.25 million in gross proceeds before accounting for fees and expenses. These developments are crucial for investors as they may impact the company’s financial structure and shareholder value.
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