Exhibit99.1
Stran & Company,Inc. Announces Pricing of Upsized $18.0
Million Initial Public Offering and Nasdaq Listing
Quincy, MA / November 8, 2021 / Stran &Company, Inc. ("Stran" or the "Company") (NASDAQ: STRN) (NASDAQ: STRNW), a leading outsourced marketing solutionsprovider that leverages its promotional products and loyalty incentive expertise, today announced the pricing of its upsized initial publicoffering of 4,337,349 units, each consisting of one share of common stock (the “Common Stock”) and a warrant (the “Warrants”)to purchase one share of Common Stock, at a public offering price of $4.15 per unit, for aggregate gross proceeds of approximately $18.0million, prior to deducting underwriting discounts, commissions, and other offering expenses. Eachunit will immediately separate into one share of Common Stock and one Warrant. Each Warrant permits the holder to purchase one shareof common stock at an exercise price of $5.1875 and expires five years after the date of issuance. In addition, the Company hasgranted the underwriters a 45-day option to purchase up to an additional 650,602 shares and/or warrants to purchase up to 650,602 sharesof Common Stock, in any combinations thereof, at the public offering price per security, less theunderwriting discounts and commissions, to cover over-allotments, if any. The offering is expected to close on or about November12, 2021, subject to satisfaction of customary closing conditions.
The Company has received approval to list itsCommon Stock and Warrants on the Nasdaq Capital Market, with its Common Stock trading under the symbol “STRN” and the Warrantstrading under the symbol “STRNW”, with trading expected to begin on November 9, 2021.
EF Hutton, division of Benchmark Investments,LLC, is acting as lead book-running manager for the offering. US Tiger Securities, Inc. is acting as joint book-running manager.
A registration statement on Form S-1, as amended(File No. 333-260109), was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on November8, 2021, and a registration statement on Form S-1MEF (File No. 333-260880), was filed with the SEC on the same date and became effectiveupon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website athttp://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton,division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via emailat syndicate@efhuttongroup.com or telephone at (212) 404-7002.
This press release shall not constitute an offerto sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securitiesin any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification underthe securities laws of any such state or jurisdiction.
About Stran
Over the past 25 years, Stran has grown to becomea leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products,branded merchandise and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen partnerof many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorshipactivation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge technology,including efficient ordering and logistics technology to provide order processing, warehousing and fulfillment functions. The Company’smission is to develop long-term relationships with its clients, enabling them to connect with both their customers and employees in orderto build lasting brand loyalty. Additional information about the Company is available at: www.stran.com.
Forward Looking Statements
This press release contains“forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statementsof historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this pressrelease may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,”“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”“potential,” “predict,” “project,” “target,” “aim,” “should,”"will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statementscontain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties,risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to futureevents that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “RiskFactors” in the final prospectus related to the public offering filed with the SEC and other reports filed with the SEC thereafter.Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update suchinformation except as required under applicable law.
Contacts:
Investor Relations Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
STRN@crescendo-ir.com
Press Contact:
Howie Turkenkopf
press@stran.com
