Jobs Numbers Showing Strength for U.S. Economy, Dow 30 Closes Up & Cachet (CAFN) Begins Trading on Nasdaq!
Nonfarm payrolls increased by 235,000 jobs last month. This is largest gain in almost 10 years. It is believed to be attributed to the warmer than usual weather according to the Labor Department.
The Dow 30 closed at 20,902.98 up +.21% today!
Cachet Financial Solutions (NasdaqCM: CAFN), a leading mobile FinTech provider of cloud-based remote deposit capture (RDC) and mobile prepaid card solutions, announced today the pricing of its public offering of 2,333,334 shares of common stock at a public offering price of $4.50 per share.
The Company also announced a reverse stock split of its common stock in a ratio of 1 for 1.5 that was effective as of March 9, 2017. In addition, the Company announced that its common stock was approved for listing on the NASDAQ Capital Market, and trading on the NASDAQ Capital Market began on March 10, 2017. The Company’s shares of common stock will continue to trade under the ticker symbol “CAFN.”
The Company has granted the underwriters a 45-day option to purchase up to an additional 350,000 shares of common stock at the public offering price to cover over-allotments, if any. All shares of the common stock in this offering are being sold by the Company. This offering is expected to close on March 15, 2017, subject to customary closing conditions.
Lake Street Capital Markets, LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NHLD), are acting as joint book-running managers for the offering.
A registration statement relating to the securities being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on March 10, 2017. This offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to this offering may be obtained by request to the offices of Lake Street Capital Markets, LLC, Attn: Equity Syndicate Department, 225 South 6th St, Ste 4750, Minneapolis, MN 55402, Telephone: (888) 330-4648, Email: Contact@lakestreetcm.com; or the offices of National Securities Corporation, Attn: Marguerite Rogers, Associate Vice President, Syndicate, 410 Park Avenue, 14th Floor, New York, NY 10022, Telephone (212) 417-8227, Email: firstname.lastname@example.org; or the on the SEC’s website at http://www.sec.gov.