OmniQ Corp. Announces Pricing of Public Offering to Support Growth and Innovation

OmniQ Corp., a leading provider of Artificial Intelligence (AI)-based solutions, has recently announced the pricing of its underwritten public offering. The offering consists of 3,000,000 shares of its common stock (or pre-funded warrants) and is being sold at a public offering price of $1.00 per share. The total gross proceeds from the offering are expected to be approximately $3,000,000.

The underwriters have also been granted a 45-day option to purchase up to an additional 450,000 shares of common stock and/or pre-funded warrants to cover over-allotments. The offering is set to close on October 11, 2023, subject to customary closing conditions.

The net proceeds from the offering will primarily be used for working capital and general corporate purposes, further strengthening OmniQ Corp.’s ability to drive innovation and support its growth initiatives. The company aims to continue providing computerized and machine vision image processing solutions that utilize patented and proprietary AI technology for various applications, including supply chain management, homeland security, public safety, traffic and parking management, and access control.

OmniQ Corp. has a strong track record of helping clients move people, assets, and data safely and securely through different environments such as airports, warehouses, schools, and national borders. Its customer base includes government agencies and leading Fortune 500 companies across multiple sectors.

ThinkEquity is acting as the sole book-running manager for the offering, ensuring a smooth and efficient process for investors. The securities will be offered and sold pursuant to a shelf registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission.

OmniQ Corp. is well-positioned to capitalize on several billion-dollar markets, including the Global Safe City market and the Ticketless Safe Parking market. These markets are projected to grow significantly in the coming years, presenting ample opportunities for the company’s continued success.

With this public offering, OmniQ Corp. demonstrates its commitment to driving innovation, expanding its market presence, and delivering cutting-edge solutions that address the evolving needs of its customers. Investors can look forward to supporting a company at the forefront of AI-based technology solutions.

For more information about OmniQ Corp. and its offerings, please visit their website at www.omniq.com.

Contact:
Investor Relations
IR@omniq.com