DSS, Inc. Celebrates Impact BioMedical Inc.'s Successful IPO and Proudly Advances Shareholder Value

Rhea-AI Summary

DSS, Inc. (NYSE American: DSS) celebrates the successful IPO of Impact BioMedical Inc. (NYSE American: IBO), a company focused on healthcare and wellness solutions. The IPO was priced at $3.00 per share for 1,500,000 shares, with trading beginning on September 16, 2024 on the NYSE American Market. This milestone enhances shareholder value for DSS investors.

Key points:

• DSS distributed 4 shares of Impact BioMedical for every 1 DSS share held on July 10, 2023
• Underwriters received warrants to purchase up to 75,000 shares (or 86,250 if over-allotment is exercised)
• Warrants are exercisable at 125% of IPO price from 9 months after offering until the 3rd anniversary

Jason Grady, Interim CEO of DSS, expressed pride in Impact BioMedical's success and its alignment with DSS's commitment to shareholder returns.

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NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- DSS, Inc. (NYSE American: DSS), a dedicated supporter and investor in Impact BioMedical Inc. (NYSE American: IBO), is delighted to announce the successful pricing of Impact BioMedical's initial public offering (IPO). Impact BioMedical, a trailblazer in advancing human healthcare and wellness solutions, has set its IPO price at $3.00 per share, with an initial offering of 1,500,000 shares. Trading under the ticker symbol “IBO,” these shares will begin trading on the NYSE American Market on September 16, 2024.

This significant achievement underscores Impact BioMedical’s innovative contributions to the healthcare sector and represents a major milestone for DSS. We are particularly proud of the role this IPO plays in enhancing shareholder value, reflecting our ongoing commitment to providing substantial returns to our investors. The IPO is expected to close on September 17, 2024, subject to customary closing conditions.

In addition to celebrating this IPO, we want to remind stakeholders that on August 8, 2023, DSS distributed shares of Impact BioMedical Inc. to its shareholders as part of a previously announced stock dividend. Shareholders of record on July 10, 2023, received four (4) shares of Impact BioMedical Inc. for every one (1) share of DSS stock they held.

Impact BioMedical has also granted underwriters warrants to purchase up to 75,000 shares of its common stock (or 86,250 shares if the over-allotment option is fully exercised), representing five percent (5%) of the shares sold in the offering. These warrants are exercisable at 125% of the IPO price per share, from nine months after the offering’s commencement until the third anniversary.

Jason Grady, Interim CEO of DSS, stated: “We are extremely proud of Impact BioMedical’s successful IPO and the value it brings to our shareholders. This milestone not only highlights their innovative approach but also aligns with our commitment to enhancing shareholder returns. At DSS, we have always believed in the transformative potential of Impact BioMedical’s work, and their entry into the public market is a significant step forward. We look forward to continuing our support of their groundbreaking efforts.”

For additional information about Impact BioMedical Inc., please visit their website: Impact Biomedical, Inc. | Reverse Engineering Nature.

About DSS, Inc.: DSS, Inc. is a multinational company with interests spanning Product Packaging, Biotechnology, Commercial Lending, Securities and Investment Management, Alternative Trading, and Alternative Energy. Since 2019, DSS has strategically grown its portfolio through selective IPO spin-offs and acquisitions, enhancing shareholder value and establishing a diverse range of high-growth industry leaders. For more information on DSS visit https://www.dssworld.com

Safe Harbor Disclosure: This press release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements involve risks and uncertainties that may cause actual results to differ materially from those projected. Forward-looking statements are based on current expectations and are subject to change. For additional information, refer to our SEC filings.

Contact: DSS Inc. Investor Relations
Email: IR@dssworld.com
Phone: +1 (585) 565-2422

FAQ

What was the IPO price for Impact BioMedical Inc. (IBO) shares?

Impact BioMedical Inc. (IBO) set its IPO price at $3.00 per share.

When did Impact BioMedical Inc. (IBO) shares begin trading on the NYSE American Market?

Impact BioMedical Inc. (IBO) shares began trading on the NYSE American Market on September 16, 2024.

How many shares of Impact BioMedical Inc. (IBO) were offered in the initial public offering?

The initial public offering of Impact BioMedical Inc. (IBO) included 1,500,000 shares.

What was the stock dividend ratio for DSS shareholders regarding Impact BioMedical Inc. shares?

DSS shareholders of record on July 10, 2023, received four (4) shares of Impact BioMedical Inc. for every one (1) share of DSS stock they held.

What warrants were granted to underwriters in the Impact BioMedical Inc. (IBO) IPO?

Underwriters received warrants to purchase up to 75,000 shares (or 86,250 if over-allotment is exercised), exercisable at 125% of the IPO price from 9 months after the offering until the 3rd anniversary.