Shares, Series A Warrants and Series B
Warrants Trading under Ticker Symbols "VHAI", "VHAI+A", and
"VHAI+B", respectively
CHICAGO, Feb. 26,
2024 /PRNewswire/ -- Vocodia Holdings Corp (CBOE:
VHAI) ("Vocodia" or the "Company"), an AI software company
that builds practical AI functions, today announced the closing of
its underwritten initial public offering of 1,400,000 Units
(collectively the "Units" or "Unit"), each consisting of one share
of common stock of the Company, par
value $0.0001 ("Common Stock"), one Series A Warrant to
purchase one share of Common Stock exercisable
at $5.5250 (the "Series A Warrant"), and one Series B
Warrant to purchase one share of Common Stock exercisable at an
exercise price of $8.5000 (the "Series B Warrant"), at a
public offering price of $4.2500 per Unit (the "Public
Offering Price").
Vocodia Announces Closing of $5.95 Million IPO and the First IPO to be Listed
on The BZX Exchange of CBOE Global Markets
In addition, the Company has granted the underwriters a 45-day
option to purchase up to an additional 210,000 shares of Common
Stock and/or Series A Warrant and/or Series B Warrants, which may
be purchased in any combination of Common Stock, Series A Warrant
and Series B Warrants at the Public Offering Price, less the
underwriting discount. On February 26,
2024, the underwriters partially exercised their
over-allotment option to purchase an additional 70,118 Series B
Warrants for a total consideration of $8,764.75.
On February 26, 2024, the Company
received gross proceeds from the offering, before underwriting
discounts and commissions and estimated offering expenses payable
by the Company of $5,558,764.75.
Prior to February 29, 2024, the
Company expects to receive an additional $400,000 in gross proceeds from the offering,
less any variation in the Public Offering Price of the Units after
February 26, 2024, and before
underwriting discounts and commissions and estimated offering
expenses payable by the Company.
The Common Stock, the Series A Warrants and the Series B
Warrants began trading on the BZX Exchange, a division of Cboe
Global Markets, on February 22, 2024, under the ticker symbols
"VHAI," "VHAI+A" and "VHAI+B", respectively.
The Company intends to use the net proceeds of the public
offering for the acquisition of websites, technologies, or other
assets, building an improved switch, and for expanding its product
offering from other digital channels, sales and marketing, working
capital and other general corporate purposes.
Advisor Details
Alexander Capital, L.P. acted as sole book-running manager for
the offering. Sichenzia Ross Ference Carmel LLP served as counsel
to the Company. Sullivan & Worcester LLP served as counsel to
the underwriters.
The securities described above have been offered by Vocodia
pursuant to a registration statement on Form S-1, as amended (File
No. 333-269489) that was declared effective by the U.S. Securities
and Exchange Commission (the "SEC") on February 14, 2024. The
offering was made only by means of a prospectus forming a part of
the effective registration statement. A copy of the final
prospectus related to the offering, when available, may be obtained
from Alexander Capital, L.P., 10 Drs James Parker Boulevard
#202, Red Bank, NJ 07701, Attention: Equity Capital
Markets, or by calling (212) 687-5650 or
emailing info@alexandercapitallp.com or by logging on to
the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, and shall not
constitute an offer, solicitation or sale in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that state or jurisdiction. Any offers,
solicitations or offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended.
About Vocodia Holdings Corp.
Vocodia is an AI software company that build practical AI
functions and makes them easily obtainable for businesses on
cloud-based platform solutions at low costs and scalable to
multiagent vast enterprise solutions. Vocodia is a conversational
AI software developer and provider that offers scalable
enterprise-level AI sales and customer service solutions which
allow for AI sales representatives to reduce human labor costs and
responsibilities while increasing the reach and efficacy of
human-led, purposeful, agenda driven and conversational
communications. Vocodia deliver its patent pending conversational
AI software in the form of Digital Intelligent Sales Agents (the
"DISAs"), which are built with AI software programmed to sound and
feel human and to perform business tasks that require humans to
converse with one another effectively, and thus to provide the best
representation for each of its customers' businesses. For more
information, please visit: www.vocodia.com.
Forward-Looking Statements
This release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "believe," "project," "estimate," "expect,"
strategy," "future," "likely," "may,", "should," "will" and similar
references to future periods. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on our current beliefs, expectations
and assumptions regarding the future of our business, future plans
and strategies, projections, anticipated events and trends, the
economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of our control.
Our actual results and financial condition may differ materially
from those indicated in the forward-looking statements. Therefore,
you should not rely on any of these forward-looking
statements. Important factors that could cause our actual
results and financial condition to differ materially from those
indicated in the forward-looking statements include, among others,
the risks and uncertainties more fully in the section captioned
"Risk Factors" in the Company's Registration Statement on Form S-1
related to the public offering (SEC File No. File No. 333-269489)
and other reports we file with the SEC. As a result of these
matters, changes in facts, assumptions not being realized or other
circumstances, our actual results may differ materially from the
expected results discussed in the forward-looking statements
contained in this press release. Forward-looking statements
contained in this announcement are made as of this date, and
undertake no duty to update such information except as required
under applicable law.
Contact:
Jeff Ramson
PCG Advisory
646-863-6893
jramson@pcgadvisory.com
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SOURCE Vocodia Holdings