Street Calls of the Week
LOS ANGELES - Nova LifeStyle, Inc. (NASDAQ:NVFY), a furniture company with a market capitalization of $25.2 million and current trading price of $1.83, announced Wednesday the pricing of its best-efforts public offering of up to 9,522,393 shares of common stock and up to 19,044,786 warrants at a public offering price of $0.915 per share. According to InvestingPro analysis, the stock has shown significant price volatility recently.
Each share of common stock is being sold together with two warrants, with each warrant allowing the purchase of one share of common stock. The warrants are exercisable immediately at $1.098 per share, representing 120% of the offering price, and will expire five years after issuance.
The furniture designer and marketer expects to close the offering on or about September 4, 2025, subject to customary closing conditions. Gross proceeds are anticipated to reach approximately $8.71 million before deducting placement agent fees and other offering expenses.
Nova LifeStyle plans to use the net proceeds for working capital, marketing expenditures, repayment of short-term debt and capital expenditures, according to the press release statement.
American Trust Investment Services, Inc. is serving as the exclusive placement agent for the offering, which is being conducted pursuant to a registration statement declared effective by the Securities and Exchange Commission on August 27, 2025.
Nova LifeStyle, headquartered in the U.S., designs and distributes contemporary styled furniture including sofas, dining room furniture, cabinets, and bedroom furniture under the Nova Brands and Diamond Sofa product lines.
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