Middleton, Mass., Sept. 17, 2026 (GLOBE NEWSWIRE) — SCWorx Corp. (the “Company”) (OTCQB: WORX), a provider of data management solutions to healthcare providers, announced today that it entered into a Securities Purchase Agreement with institutional and accredited investors (the “Investors”) for an equity financing resulting in aggregate gross proceeds of approximately $938,000, before deducting placement agent fees and other offering expenses.
In connection with the financing, the Company agreed to sell Units consisting of an aggregate of 350,000 shares of common stock, and warrants to purchase 350,000 shares of common stock, at a purchase price of $2.68 per Unit. The warrants have an exercise price of $2.56 per share, are subject to a beneficial ownership limitation, are exercisable immediately and have a term of five years. In addition, existing investors have exercised outstanding warrants to purchase an aggregate 50,000 shares of common stock, and the Company will issue approximately 50,000 shares of common stock to the placement agent as compensation.
Upon completion of these issuances, SCWorx expects to have more than 500,000 Publicly Held Shares, as required by Nasdaq Rule 5550(a)(4), subject to Nasdaq’s determination that the Company has regained compliance with the Rule. The Company’s common stock remains listed on the Nasdaq Capital Market, but trading on Nasdaq has been suspended since April 14, 2026, and the common stock is currently quoted on the OTCQB market.
Dawson James Securities, Inc. acted as placement agent in connection with the financing.
The Company has agreed to file a registration statement on Form S-3 within thirty days with the U.S. Securities and Exchange Commission (the “SEC”) covering the resale of the shares of common stock as well as the shares issuable upon exercise of the warrants.
The net proceeds from the financing are intended to be used for working capital purposes.
Under the terms of the Securities Purchase Agreement, the proceeds from the financing will be maintained in a segregated account until November 30, 2026. The Company must regain compliance with the continued listing standards of the Nasdaq Capital Market on or prior to October 5, 2026. If the Company’s common stock does not resume trading on the Nasdaq Capital Market by October 31, 2026, or if Nasdaq issues a determination to delist the Company’s common stock before that date, each Investor will then have the right, subject to the terms of the Securities Purchase Agreement, to require the Company to return such Investor’s subscription amount in exchange for cancellation and surrender of the securities purchased by that Investor. Nasdaq has advised the Company that, in order to regain compliance, the Company must both satisfy the 500,000 Publicly Held Shares requirement and thereafter maintain a closing bid price of at least $1.00 per share for ten consecutive trading days, and that both conditions must be satisfied on or before October 5, 2026, the deadline set by the Nasdaq Hearings Panel. If the Company does not satisfy these conditions by that date, the Company expects that Nasdaq will delist its common stock. There is no assurance that the Company’s common stock will resume trading on the Nasdaq Capital Market.
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