RDE (NASDAQ:RSTN) Enters into Placement Agency Agreement, Completes Public Offering

On January 15, 2025, Giftify Inc. (NASDAQ: GIFT) announced that it had entered into a Placement Agency Agreement (PAA) with Craft Capital Management LLC as the Placement Agent. The agreement involved the issuance and sale of 600,000 shares of the company’s common stock at a price of $1.00 per share. This initiative was conducted under the company’s shelf registration statement on Form S-3 and was completed on a ‘best efforts’ basis.

The PAA outlined the customary representations, warranties, and agreements of the Company, along with typical conditions to closing, obligations of the parties, and termination provisions. Additionally, the Company’s President and CEO, Ketan Thakker, agreed to a 30-day “lock-up” period regarding specific securities sales, subject to certain exceptions.

CM Law PLLC, as the Company’s counsel, issued an opinion affirming the validity of the shares issued and sold during the Offering. On January 16, 2025, the Company successfully closed the Offering, selling 600,000 shares for a total of $600,000 in gross proceeds. After deducting the Placement Agent fee and other offering expenses, the Company received net proceeds of $483,000.

Furthermore, on January 15, 2025, Giftify Inc. issued a press release disclosing the initiation and pricing of the Offering. The press release stated that the Offering involved 600,000 shares of common stock with no warrants, priced at $1.00 per share, with Craft Capital Management LLC acting as the sole placement agent.

The net proceeds from the Offering are intended to be used for general corporate purposes, capital expenditures, working capital, and general administrative expenses. Giftify Inc. encourages interested parties to access the preliminary prospectus supplement, as well as the accompanying prospectus, available on the Securities and Exchange Commission’s website.

The Company’s digital platforms, CardCash.com and Restaurant.com, focus on providing incentives and rewards in the retail, dining, and entertainment sectors. Giftify Inc. strives to connect consumers, businesses, and communities by offering digital deals at numerous restaurants and retailers nationwide.

Investors are advised to exercise caution regarding forward-looking statements made by the company, as these statements may not always accurately reflect future outcomes. The Company emphasizes that its forward-looking statements are subject to a range of risks and uncertainties.

For further information, readers are encouraged to visit Giftify Inc.’s websites: www.giftifyinc.com, www.cardcash.com, and https://www.restaurant.com.

Following the completion of this transaction, Giftify Inc. can now move forward with utilizing the proceeds to enhance its operations and offerings in the marketplace.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RDE’s 8K filing here.

RDE Company Profile

RDE, Inc owns and operates a restaurant deal space in the United States. The company operates Restaurant.com that connects digital consumers, businesses, and communities with dining and merchant deal options at approximately 182,500 restaurants and retailers to approximately 7.8 million customers. It sells discount certificates for restaurants, as well as complementary entertainment and travel offerings, and consumer products on behalf of third-party merchants.