Cemtrex Prices of $10 Million Upsized Underwritten Public Offering

Hauppauge, NY, May 01, 2024 (GLOBE NEWSWIRE) —  – Cemtrex, Inc. (Nasdaq: CETX), an advanced security technology and industrial services company, today announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $10 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering was upsized from $9 million. The base offering consists of 11,764,705 Common Units or Pre-Funded Units, each consisting of one share of common stock (“Common Share”) or one Pre-Funded Warrant, one Series A Warrant to purchase one Common Share at an exercise price of $0.85 per share or pursuant to an alternative cashless exercise option, which warrant will expire two-and-a-half years from the closing date of this offering and one Series B Warrant to purchase one Common Share at an exercise price of $0.85 per share, which warrant will expire on the five-year anniversary of the closing date of this offering. The purchase price of each Common Unit is $0.85, and the purchase price of each Pre-Funded Unit is $0.849 (which is equal to the public offering price per Common Unit minus $0.001). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all the Pre-Funded Warrants are exercised in full.

The Company intends to use the net proceeds from this offering to conduct operations, increase marketing efforts, investment in existing business initiatives and products, and for the partial repayment of indebtedness. The Company may also use a portion of the net proceeds of this offering to acquire or invest in complementary businesses, products, or technologies, or to obtain the right to use such complementary technologies.

In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase additional Common Shares and/or Warrants, representing up to 15% of the number of securities sold in the offering, solely to cover over-allotments, if any.

The closing of the offering is expected to occur on May 3, 2024, subject to customary closing conditions.

About Cemtrex

Cemtrex Inc. (CETX) is a company that owns two operating subsidiaries: Vicon Industries, Inc. (“Vicon”) and Advanced Industrial Services, Inc. (“AIS”).

Vicon is a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities. Since 1967, Vicon has delivered mission-critical security surveillance systems, specializing in engineering complete security solutions that simplify deployment, operation and ongoing maintenance. Vicon provides security solutions for some of the largest municipalities and businesses in the U.S. and around the world, offering a wide range of cutting-edge and compliant security technologies, from AI-driven video analytics to fully integrated access control solutions. For more information visit www.vicon-security.com.

AIS is a premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. AIS installs high precision equipment in a wide variety of industrial markets including automotive, printing & graphics, industrial automation, packaging, and chemicals. AIS owns and operates a modern fleet of custom-designed specialty equipment to assure safe and quick installation of production equipment. AIS staff participates in recurring instructional training, provided to ensure that the most current industry methods are being utilized to provide an efficient and safe working environment. For more information visit www.ais-york.com.

For more information visit www.cemtrex.com.