NextPlat Corp. (NASDAQ: NXPL), a global e-commerce provider, announced the execution of a binding securities purchase agreement. The agreement was made April 5, 2023, with a strategic, accredited investor. According to the announcement, NXPL agreed to sell 3,428,571 shares of the company’s common stock at $0.0001 par value per share. The offering price of the stock was $1.75 per share, or the closing price of the stock on April 4, 2023. The company noted that, in connection with the agreement, the Investor subscribed for, and NextPlat will receive, gross proceeds of approximately $6 million for the stock. The agreement is expected to close on or before April 10, 2023. “This transaction will enhance the company’s balance sheet providing additional cash for working capital including supporting the company’s newly launched e-Commerce development program, which is designed to assist Florida-based businesses to access international markets in Asia,” the announcement stated.

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About NextPlat Corp

NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets for physical and digital assets. The company intends to collaborate with businesses, optimizing the ability to sell their goods online, domestically, and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications services division through its Global Telesat Communications Ltd. and Orbital Satcom Corp. business units, which offer voice, data, tracking and IoT services to customers worldwide through multiple global storefronts. For more information about the company, please visit www.NextPlat.com.

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