Mill City Ventures III, Ltd. Announces Pricing of $5.0 Million Public Offering and Concurrent IPO on Nasdaq Capital Market

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MINNEAPOLIS, MN/ACCESSWIRE/August 8, 2022/ Mill City Ventures III, Ltd. (NASDAQ: MCVT) (Mill City or the “Company”), a non-bank lender and specialty finance company, today announced the price for its subscribed public offering of 1,250,000 shares of common stock in a public offering. price of $4.00 per share, for aggregate gross proceeds of $5,000,000, before discounts and underwriting commissions. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 common shares at the offering price, less the underwriting discount. The Company expects to begin trading on the Nasdaq Capital Market (“Nasdaq”) tomorrow.

As part of the Nasdaq listing, the Company will implement a reverse split of its issued and outstanding common shares at a ratio of 1:2.25. The reverse stock split will become effective at the opening of markets on August 9, 2022. The share count and price information in this release is adjusted to reflect the reverse stock split. The offering is expected to close on August 11, 2022, subject to customary closing conditions.

The Company intends to use the net proceeds of this offering primarily for general corporate purposes, including working capital, expanding sales and marketing activities and providing short term specialty loans. additional term.

Advisor Details

Alexander Capital, LP is acting as sole bookrunner for the offering. Lucosky Brookman LLP served as Mill City’s attorney. Cozen O’Connor, PC acted as legal counsel to the Subscribers.

The securities described above are offered by Mill City pursuant to a registration statement on Form S-1 (File No. 333-264474) which was declared effective by the United States Securities and Exchange Commission on August 8, 2022 The offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering, when available, may be obtained from Alexander Capital, LP, 17 State Street 5e Floor, New York, NY 10004, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing [email protected]

This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal before registration. or qualification under the securities laws of such state or jurisdiction.

About Mill City

Founded in 2007, Mill City is a non-bank short-term lending and specialty finance company. Additional information is available at

Forward-Looking Statements and Safe Harbor Notices

All statements other than statements of historical facts included in this press release are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). These forward-looking statements include our expectations and statements that use forward-looking words such as “expected”, “expected”, “possibility” and “anticipate”. The realization or success of the matters covered by these forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should carefully read the risk factors set forth in the Company’s prospectus on Form S-1 filed with the SEC on April 26, 2022, as amended, subsequent filings and future periodic reports filed with the SEC. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.

The Company cautions that the statements and assumptions made in this press release constitute forward-looking statements and do not guarantee future performance. Forward-looking statements are based on management’s estimates and opinions at the time the statements are made. The information presented here is only valid as of the date hereof. The Company and its management undertake no obligation to revise these statements after the date of this press release, except as required by law.

Investor contacts:

TraDigital IR
John McNamara
[email protected]

THE SOURCE: Mill City Ventures III, Ltd.

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