HomeEquities ScoreAlfi, Inc. (ALF) Stock Surges Following Announcement of New Chief Revenue Officer

Alfi, Inc. (ALF) Stock Surges Following Announcement of New Chief Revenue Officer

Alfi, Inc. (ALF) stock prices were up by 2.49% as of the market closing on May 7th, 2021, bringing the price per share up to USD$3.70 at the end of the trading day. Subsequent pre-market fluctuations saw the stock skyrocket by 28.65% to hit USD$7.76.

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Initial Public Offering

ALF announced on May 6th, 2021 that it had closed its previously launched initial public offering. The company had offered up to 3,731,344 shares of is common stock and warrants for purchase, with a public offering price of USD$1.15 per share and warrant. The gross aggregate proceeds come out to almost USD$15.5 million, before the deduction of expenses related to the offering.


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IPO Details

Additionally, the company has granted underwriters a 45-day option allowing the purchasing of up to an addition 559,701 of shares and warrants. These would also be priced at the public offering price, with the warrants being exercisable for one share of common stock at an exercise price of USD$4.57 per share and an expiry date of five years from the date of issuance. Net proceeds are anticipated to be put towards reducing debt and facilitate the roll out of Alfi enabled tablet software and service.

Expansion of Senior Management Team

The company has also recently expanded its Senior Management team with the appointment of a new CRO, Ron Spears, who has extensive, hands-on experience building and managing advertising technology sales companies of varying sizes. Shareholders are confident in the company’s global sales strategy and execution moving forward under this new leadership.

Bases of ALF’s Success

ALF is a unique and innovate platform that set itself apart from its competitors in its ability to provide rich data and analytical insights. These can be used to facilitate real-time OOH ad optimization and agility along with interactive ads, allowing for the provision of more dynamic user experiences than traditional static messaging. Senior management is confidence in the market space available globally in light of ALF’s capacity to leverage its resources to become a leader in the market space.

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Future Outlook for ALF

Armed with a solid liquidity position and a competent Senior Management team, ALF is on the cusp of potential exponential growth. Current and potential investors have place high hopes in the company, as indicated by recent ALF stock price trends.

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