EQS-News

This Company’s Uplisting Could Be A Catalyst For Further Growth As It Reports Q2 Financial Results

EQS-News: Mill City Ventures III, Ltd This Company’s Uplisting Could Be A Catalyst For Further Growth As It Reports Q2 Financial Results 06.10.2022 / 14:56 CET/CEST The issuer is solely responsible for the content of this announcement. Learn more about Mill City Ventures III, Ltd. by gaining access to the latest research report.

Going public on bigger markets gives private companies a perfect opportunity to generate capital to help further growth, reduce debt, fund research and development (R&D) and take care of other business operations.

Apart from the financial upside, the company can also benefit from increased public awareness because an uplist tends to generate publicity that attracts new customers, subsequently increasing market share.

On Aug. 10, Mill City Ventures III Ltd. (NASDAQ: MCVT), a nonbank lender and specialty finance company, joined Manhattan Bridge Capital Inc. (NASDAQ: LOAN), Oxford Square Capital Corp. (NASDAQ: OXSQ), and U.S. Global Investors Inc. (NASDAQ: GROW), which have moved to the Nasdaq (NASDAQ: NDAQ) stock market.

Founded in January 2006, Mill City is a nonbank specialty finance firm specializing in investments in debt and equity securities of public and private companies to fund operations facing short-term liquidity issues.

Before Commencing Trading On Nasdaq

Before it began trading on the Nasdaq Capital Market (Nasdaq), the company revealed the pricing of its underwritten public offering — 1.25 million shares of common stock at a public offering price of $4 per share for aggregate gross proceeds of $5 million before underwriting discounts and commissions, and other company offering expenses.

In addition, the company granted the underwriters a 45-day option to purchase up to 187,500 additional shares of common stock at the offering price, less the underwriting discount.

SEC Filling

In its filing with the U.S. Securities and Exchange Commission (SEC), Mill City identified several criteria it believes are important guidelines to meet its financial objectives. They include:

Existing Liquidity Source

The company noted that because most of its transactions involve short-term maturities, it typically seeks to identify a liquidity source for the borrower to repay them.