Attached files
file | filename |
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EX-10.1 - SECURITIES PURCHASE AGREEMENT DATED JUNE 1, 2021 - ENGLOBAL CORP | eng_ex101.htm |
EX-5.1 - OPINION ON LEGALITY - ENGLOBAL CORP | eng_ex51.htm |
EX-1.1 - UNDERWRITING AGREEMENT - ENGLOBAL CORP | eng_ex11.htm |
8-K - CURRENT REPORT - ENGLOBAL CORP | eng_8k.htm |
Exhibit 99.1
ENGlobal Announces $20 Million Registered Direct Offering Priced
At-the-Market Under Nasdaq Rules
HOUSTON, TX, June 2, 2021 -- ENGlobal
Corporation (NASDAQ: ENG) (“ENGlobal” or the
“Company”), a
leading provider of complete project solutions for renewable and
traditional energy, today
announced it has entered into a securities purchase
agreement with institutional investors for the purchase and sale of
7,142,859 shares of its common stock at a purchase price of $2.80
per share in a registered direct offering priced at-the-market
under Nasdaq rules. The closing of the offering is expected to
occur on or about June 4, 2021, subject to the satisfaction of
customary closing conditions.
A.G.P./Alliance
Global Partners is acting as sole placement agent for the
offering.
This
offering is being made pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-252572) previously filed with
the U.S. Securities and Exchange Commission (the
“SEC”). A
prospectus supplement describing the terms of the proposed offering
will be filed with the SEC and will be available on the SEC’s
website located at http://www.sec.gov. Electronic copies of the
prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in such prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities 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 any such state or
jurisdiction.
About
ENGlobal
ENGlobal
(NASDAQ:ENG) is a leading provider of complete project solutions
for renewable and traditional energy throughout the United States
and internationally. ENGlobal operates through two business
segments: Commercial and Government Services. Further information
about the Company and its businesses is available
at www.ENGlobal.com.
Forward
Looking Statements
This
press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act, as
amended, including those relating to the timing and completion of
the proposed offering and other statement that are predictive in
nature. These statements may be identified by the use of
forward-looking expressions, including, but not limited to,
“expect,” “anticipate,”
“intend,” “plan,” “believe,”
“estimate,” “potential,”
“predict,” “project,” “should,”
“would” and similar expressions and the negatives of
those terms. These statements relate to future events and involve
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from any results, performance or achievements expressed
or implied by the forward-looking statements. Such factors include
the risk factors set forth in the Company’s filings with the
SEC, including, without limitation, its Annual Report on Form 10-K
for the year ended December 26, 2020, and its subsequently filed
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as
well as the risks identified in the shelf registration statement
and the prospectus supplement relating to the offering. Prospective
investors are cautioned not to place undue reliance on such
forward-looking statements, which speak only as of the date of this
press release. The Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
Click
here to join our email
list: https://www.englobal.com/investors/email-alerts/
CONTACT:
Mark A.
Hess
Phone:
(281) 878-1000
E-mail: ir@ENGlobal.com
Market
Makers - Investor Relations
Jimmy
Caplan
512-329-9505
Email: jimmycaplan@me.com
Market
Makers - Media Relations
Rick
Eisenberg
212-496-6828
Email: eiscom@msn.com