ToughBuilt Industries Publicizes Closing of  Million Public Providing
Industries

ToughBuilt Industries Publicizes Closing of $6 Million Public Providing

ToughBuilt Industries Publicizes Closing of  Million Public Providing

ToughBuilt Industries, Inc.

LAKE FOREST, Calif., June 22, 2022 (GLOBE NEWSWIRE) — ToughBuilt Industries, Inc. (“ToughBuilt” or the “Firm”) (NASDAQ: TBLT; TBLTW), as we speak introduced the closing of its beforehand introduced public providing of three,157,895 shares of its frequent inventory (or pre-funded warrants in lieu thereof), along with warrants to buy as much as 3,157,895 shares of its frequent inventory at an providing value to the general public of $1.90 per share (or pre-funded warrant) and related warrant. The warrants could have an train value of $1.90 per share, are exercisable upon issuance, and can expire 5 years following the date of issuance. 

H.C. Wainwright & Co. acted because the unique placement agent for the providing.

The gross proceeds to the Firm from the providing have been roughly $6 million, earlier than deducting the location agent’s charges and different providing bills payable by ToughBuilt. The Firm intends to make use of the web proceeds from the providing for normal company functions, together with working capital, and the repurchase of sure present warrants.

A registration assertion on Kind S-1 (File No. 333-264930) relating to those securities has been filed with the Securities and Trade Fee, or the SEC, and was declared efficient by the SEC on June 17, 2022. The providing was made solely by way of a prospectus, which is a part of the efficient registration assertion. Digital copies of the ultimate prospectus could also be obtained free of charge on the SEC’s web site situated at http://www.sec.gov and might also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, third Ground, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.

This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase any of the securities described herein, nor shall there be any sale of those securities in any state or different jurisdiction by which such a suggestion, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or different jurisdiction.

ABOUT TOUGHBUILT INDUSTRIES, INC.

ToughBuilt is a complicated product design, producer and distributor with emphasis on progressive merchandise. At the moment, we’re targeted on instruments and different equipment for the skilled and do-it-yourself building industries. We market and distribute numerous dwelling enchancment and building product traces for each the do-it-yourself {and professional} markets below the TOUGHBUILT® model identify, throughout the international multibillion greenback per 12 months device market trade. All of our merchandise are designed by our in-house design crew. Since launching product gross sales in 2013, we’ve skilled vital annual gross sales progress. Our present product line contains three main classes, with a number of extra classes in numerous phases of growth, consisting of Mushy Items & Kneepads and Sawhorses & Work Merchandise. Our mission is to offer merchandise to the constructing and residential enchancment communities which can be progressive, of superior high quality derived partially from enlightened creativity for our finish customers whereas enhancing efficiency, bettering well-being and constructing excessive model loyalty. Extra details about the Firm is offered at: https://www.toughbuilt.com/.

FORWARD-LOOKING STATEMENTS

This press launch accommodates “forward-looking statements.” Such statements embody, however should not restricted to, statements relating to the supposed use of proceeds from the providing and could also be preceded by the phrases “intends,” “might,” “will,” “plans,” “expects,” “anticipates,” “initiatives,” “predicts,” “estimates,” “goals,” “believes,” “hopes,” “potential” or related phrases. Ahead-looking statements should not ensures of future efficiency, are based mostly on sure assumptions and are topic to varied identified and unknown dangers and uncertainties, a lot of that are past the Firm’s management, and can’t be predicted or quantified and consequently, precise outcomes might differ materially from these expressed or implied by such forward-looking statements. Such dangers and uncertainties embody, with out limitation, dangers and uncertainties related to (i) the influence of the worldwide COVID-19 pandemic and authorities actions, on our enterprise, (ii) provide chain disruptions, (iii) market acceptance of our present and new merchandise, (iv) delays in bringing merchandise to key markets, (v) an incapability to safe regulatory approvals for the flexibility to promote our merchandise in sure markets, (vi) intense competitors within the trade from a lot bigger, multinational firms, (vii) product legal responsibility claims, (viii) product malfunctions, (ix) our restricted manufacturing capabilities and reliance on subcontractors for help, (x) our efforts to efficiently acquire and preserve mental property safety overlaying our merchandise, which is probably not profitable, (xi) our reliance on single suppliers for sure product parts, (xii) the truth that we might want to elevate extra capital to fulfill our enterprise necessities sooner or later and that such capital elevating could also be pricey, dilutive or troublesome to acquire, (xiii) the truth that we conduct enterprise in a number of overseas jurisdictions, exposing us to overseas foreign money trade charge fluctuations, logistical and communications challenges, burdens and prices of compliance with overseas legal guidelines and political and financial instability in every jurisdiction, (xiv) our use of the web proceeds within the providing, and (xv) market and different situations. Extra detailed details about the Firm and the danger components that will have an effect on the conclusion of ahead wanting statements is ready forth within the Firm’s filings with the Securities and Trade Fee (SEC), together with the Firm’s Annual Report on Kind 10-Ok and its Quarterly Experiences on Kind 10-Q. Traders and safety holders are urged to learn these paperwork freed from cost on the SEC’s site at http://www.sec.gov. The Firm assumes no obligation to publicly replace or revise its forward-looking statements on account of new data, future occasions or in any other case, besides as required by legislation.

Investor Relations Contact:

KCSA Strategic Communications
David Hanover
ToughBuilt@KCSA.com