Corporate ActionMay 27, 2026, 06:07 AM
Data Storage Corp Establishes At-The-Market Offering
AI Summary
Data Storage Corp has entered into an Equity Distribution Agreement with Maxim Group LLC, enabling the company to sell shares of its common stock through an "at the market" offering. Maxim Group LLC will act as the sales agent, earning a 2.5% commission on gross proceeds and receiving up to $25,000 for certain expenses. This agreement, which is similar to a previous one from July 2024, allows for the potential sale of up to $10,600,000 in common stock under a shelf registration statement.
Key Highlights
- Data Storage Corp entered an Equity Distribution Agreement with Maxim Group LLC on May 26, 2026.
- The agreement allows the company to offer and sell common stock through an "at the market" offering.
- Maxim Group LLC will receive a commission of 2.5% of the aggregate gross proceeds from each sale.
- The company agreed to reimburse Maxim for certain expenses, not exceeding $25,000.
- The terms are substantially similar to an original agreement dated July 18, 2024.
- The ATM Prospectus relates to the offering of up to $10,600,000 shares of common stock.
Price Impact
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