Manchester, NH - 
(NewMediaWire) - July 26, 2021 - Minim, Inc. (NASDAQ:
MINM) (the “Company”) today announces the launch of the Company’s proposed
public offering of $25 million pursuant to a registration statement filed
with the Securities and Exchange Commission (“SEC”). The Company expects to
grant the underwriters a 30-day option to purchase up to an additional $3.75
million at the public offering price less the underwriting discounts and
commissions. The proposed offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
The Company intends to use the net
proceeds it receives from the offering for general corporate and working
capital purposes, which may include inventory optimization, development and marketing
of new product offerings and expansion into global markets.
B. Riley Securities is acting
as the sole book-running manager for the proposed offering.
A registration statement on
Form S-1 (File No. 333-257656), including a prospectus, which is preliminary
and subject to completion, relating to these securities has been filed with the
SEC on July 26, 2021, but has not yet become effective. These securities may
not be sold, nor may offers to buy be accepted, nor may any portion of the
purchase price be received, prior to the time the registration statement
becomes effective. 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 under the
securities laws of any such state or jurisdiction.
The offering of these
securities may be made only by means of a prospectus. Copies of the preliminary
prospectus may be obtained, when available, by contacting B. Riley Securities,
Attention: Prospectus Department, 1300 17th St. North, Ste. 1300,
Arlington, VA 22209, or by telephone at (703) 312-9580 or by email at
prospectuses@brileyfin.com.
About Minim
Minim,
Inc. (NASDAQ: MINM) is the
creator of intelligent networking products that dependably connect people to
the information they need and the people they love. Headquartered in
Manchester, NH, the company delivers smart software-driven communications
products under the globally recognized Motorola brand and ZOOM® trademark.
Minim end users benefit from a personalized and secure WiFi experience, leading
to happy and safe homes where things just work.
MOTOROLA and the Stylized M
Logo are trademarks or registered trademarks of Motorola Trademark Holdings,
LLC and are used under license.
Media Contact:
Michele Clarke at (203)
912-0560 or michele.clarke@minim.com
Investor Relations Contact:
James Carbonara, Hayden IR at
(646) 755-7412 or james@haydenir.com
Forward-Looking
Statements
This press release contains
“forward-looking statements”, within the meaning of the safe harbor provisions
of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking
statements relate to Minim’s plans, expectations, and intentions. Actual
results may be materially different from expectations as a result of known and
unknown risks, including: risks associated with Minim’s potential inability to
realize intended benefits of the merger; the potential increase in tariffs on
the company’s imports; potential difficulties and supply interruptions from
moving the manufacturing of most of the company’s products to Vietnam; risks
relating to global semiconductor shortages; potential changes in NAFTA; the
potential need for additional funding which Minim may be unable to obtain;
declining demand for certain of Minim’s products; delays, unanticipated costs,
interruptions or other uncertainties associated with Minim’s production and
shipping; Minim’s reliance on several key outsourcing partners; uncertainty of
key customers’ plans and orders; risks relating to product certifications;
Minim’s dependence on key employees; uncertainty of new product development,
including certification and overall project delays, budget overruns; the risk
that newly introduced products may contain undetected errors or defects or
otherwise not perform as anticipated; costs and senior management distractions
due to patent related matters; risks from a material weakness in our internal
control over financial reporting; the impact of the COVID-19 pandemic; and
other risks set forth in Minim’s filings with the Securities and Exchange
Commission. Minim cautions readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made. Minim
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statements to reflect any change in Minim’s
expectations or any change in events, conditions or circumstance on which any
such statement is based.
