Beam Global Closes $10M Public Offering
Ticker: BEEM · Form: 8-K · Filed: Apr 17, 2024 · CIK: 1398805
| Field | Detail |
|---|---|
| Company | Beam Global (BEEM) |
| Form Type | 8-K |
| Filed Date | Apr 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: public-offering, financing, capital-raise
Related Tickers: BEEM
TL;DR
Beam Global raised $10M from a stock offering, selling shares at $5.75.
AI Summary
On April 16, 2024, Beam Global announced the closing of its previously disclosed underwritten public offering, which resulted in gross proceeds of approximately $10.0 million before deducting underwriting discounts and commissions and other offering expenses. The company issued approximately 1.7 million shares of common stock at a public offering price of $5.75 per share.
Why It Matters
This capital infusion provides Beam Global with additional funds to support its operations and growth initiatives in the electric vehicle charging infrastructure market.
Risk Assessment
Risk Level: medium — Public offerings can dilute existing shareholders and the success of the company depends on its ability to utilize the raised capital effectively.
Key Numbers
- $10.0M — Gross Proceeds (From underwritten public offering)
- 1.7M shares — Shares Issued (In the public offering)
- $5.75 — Offering Price (Per share)
Key Players & Entities
- Beam Global (company) — Registrant
- April 16, 2024 (date) — Date of earliest event reported
- $10.0 million (dollar_amount) — Gross proceeds from public offering
- 1.7 million (dollar_amount) — Number of shares issued
- $5.75 (dollar_amount) — Public offering price per share
FAQ
What was the total amount of gross proceeds from the public offering?
The total amount of gross proceeds was approximately $10.0 million.
How many shares of common stock were issued in the offering?
Approximately 1.7 million shares of common stock were issued.
What was the public offering price per share?
The public offering price was $5.75 per share.
When did Beam Global announce the closing of this offering?
The report indicates the earliest event reported was April 16, 2024.
What is the company's primary business?
Beam Global is involved in electric vehicle charging infrastructure.
Filing Stats: 548 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-04-17 07:57:42
Filing Documents
- beam_8k.htm (8-K) — 29KB
- beam_ex9901.htm (EX-99.1) — 61KB
- 0001683168-24-002474.txt ( ) — 308KB
- beem-20240416.xsd (EX-101.SCH) — 3KB
- beem-20240416_def.xml (EX-101.DEF) — 26KB
- beem-20240416_lab.xml (EX-101.LAB) — 36KB
- beem-20240416_pre.xml (EX-101.PRE) — 25KB
- beam_8k_htm.xml (XML) — 5KB
02
Item 2.02. Results of Operations and Financial Condition. On April 16, 2024, Beam Global (the "Company") issued a press release announcing financial results for its year ended December 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information furnished in this Form 8-K and the press release attached as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the press release attached as Exhibit 99.1 shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Description 99.1 Press release dated April 16, 2024 104 Cover Page Interactive Data File (formatted in iXBRL) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEAM GLOBAL Dated: April 17, 2024 By: /s/ Lisa A. Potok Name: Lisa A. Potok Title: Chief Financial Officer 3