Ballantyne Strong, Inc. Announces Pricing of Public Offering

Charlotte, NC, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Ballantyne Strong, Inc. (NYSE American: BTN) (“Ballantyne Strong” or the “Company”) today announced the pricing of its underwritten public offering of 3,290,000 shares of its common stock at a public offering price of $2.30 per share, for gross proceeds of $7,567,000, before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the Company.

The offering is expected to close on February 8, 2021, subject to satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-238757), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 28, 2020 and declared effective on June 4, 2020. The offering will be made only by means of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC on its website at www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website. Copies of the preliminary prospectus supplement and the accompanying prospectus and of the final prospectus supplement and accompanying prospectus, when available, each relating to the offering, may also be obtained, when available, from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at [phone] or by email at [e-mail]. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.