Smart for Life, an acquisition-focused seller of nutraceuticals and related health products, raised $14 million by offering 1.4 million units at $10, within the range of $9 to $11. The company offered 0.4 million fewer units than anticipated. Each unit consists of one share of common or Series B convertible preferred stock at the purchaser's election, one Series A warrant exercisable at $7.00, and one Series B warrant exercisable at $10.00.
Because the company offered units with warrants attached, Smart for Life will be excluded from Renaissance Capital's IPO stats.
Smart for Life plans to list on the Nasdaq under the symbol SMFL. Dawson James acted as sole bookrunner on the deal.
