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EXHIBIT 99.1
Recruiter.com Announces Pricing of Upsized $12.0 Million Public
Offering and Nasdaq Listing
HOUSTON, TX / ACCESSWIRE / June 30, 2021
/ Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW)
("Recruiter.com" or the "Company"), an on-demand recruiting
platform, today announced the pricing of its public
offering of 2,400,000 units at a price to the public of $5.00 per
unit. Each unit issued in the offering consists of one share of
common stock and one warrant to purchase one share of common stock
at an exercise price of $5.50 per share. The Common Stock and
Warrants are immediately separable from the units and will be
issued separately. The Warrants are exercisable immediately, expire
five years from the date of issuance and will have an exercise
price of $5.50 per share.
The
Common Stock and Warrants have been approved to list on the Nasdaq
Capital Market under the symbols "RCRT" and "RCRTW," respectively,
and are expected to begin trading on June 30, 2021. The Company
expects to receive gross proceeds of approximately $12.0 million,
before deducting underwriting discounts and commissions and other
estimated offering expenses.
In
addition, the Company has granted the underwriters a 45-day option
to purchase up to an additional 360,000 shares of common stock
and/or warrants to purchase 360,000 shares of Common Stock, or any
combination thereof, to cover over-allotments, if any.
The
Company intends to use the proceeds to invest in sales and
marketing efforts for its on-demand recruiting software
subscription tools and services, strategic acquisitions and related
expenses, and general working capital.
Joseph
Gunnar & Co., LLC is acting as sole book-running manager for
the offering.
The
offering is expected to close on July 2, 2021, subject to customary
closing conditions.
The
Securities and Exchange Commission ("SEC") declared effective a
registration statement on Form S-1 relating to these securities on
June 29, 2021. A final prospectus relating to this offering will be
filed with the Securities and Exchange Commission. The offering is
being made only by means of a prospectus. Copies of the final
prospectus relating to the offering may be obtained, when
available, by contacting Joseph Gunnar & Co., LLC at 30 Broad
Street / FLR. 11, New York, Ny 10004 attn: Operations. Investors
may also obtain these documents at no cost by visiting the SEC's
website at https://www.sec.gov.
This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Recruiter.com Group, Inc.
Recruiter.com
is an online hiring platform delivering on-demand recruiting
technology and services to both large and small businesses. With AI
and video technology, and the world's largest network of
recruiters, Recruiter.com delivers on-tap recruiting that flexes
with hiring needs. To learn more, visit https://www.recruiter.com.
For
investor information, visit https://investors.recruiter.com
Please follow social media channels for additional
updates:
●
LinkedIn Recruiter
Network Group: https://www.linkedin.com/groups/42370/
●
LinkedIn Company
Page: https://www.linkedin.com/company/1240434
●
Twitter Company
Page: https://twitter.com/recruiterdotcom
●
Facebook Company
Page: https://www.facebook.com/RecruiterDotCom
Company Contact:
Evan
Sohn
CEO
Recruiter.com
Group, Inc.
info@recruiter.com
Investor Relations:
Dave
Gentry
RedChip
Companies, Inc.
Phone:
(407) 491-4498
dave@redchip.com
Cautionary Note Regarding Forward-Looking Statements:
This
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words "forecasts" "believe," "may," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "could," "target,"
"potential," "is likely," "will," "expect" and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements
primarily on our current expectations and projections about future
events and financial trends that we believe may affect our
financial condition, results of operations, business strategy, and
financial needs. Important factors that could cause actual results
to differ from those in the forward-looking statements include
continued demand for professional hiring, the accuracy of the
Recruiter Index® survey, the impact of the COVID-19 pandemic
on the job market and the economy as virus levels are again rising
in many states, and the Risk Factors contained within our filings
with the Securities and Exchange Commission, including our Annual
Report on Form 10-K for the year ended December 31, 2020. Any
forward-looking statement made by us herein speaks only as of the
date on which it is made. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as may be required by law.