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Toughbuilt Industries Inc - TBLT STOCK NEWS

Welcome to our dedicated news page for Toughbuilt Industries (Ticker: TBLT), a resource for investors and traders seeking the latest updates and insights on Toughbuilt Industries.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Toughbuilt Industries's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Toughbuilt Industries's position in the market.

Rhea-AI Summary
ToughBuilt Industries Inc. secures a significant line of credit from King Trade Capital, expected to boost purchasing power by $30 million annually. The alliance aims to enhance procurement, direct import, and order fulfillment capabilities, strengthening relationships with retail partners and factories.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.9%
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none
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Rhea-AI Summary
ToughBuilt Industries, Inc. successfully closed a public offering, selling 772,628 shares of common stock at $4.53 per share, raising approximately $3.5 million. The company intends to utilize the net proceeds for general corporate purposes and working capital. H.C. Wainwright & Co. served as the exclusive placement agent for the offering.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Rhea-AI Summary
ToughBuilt Industries, Inc. announced the pricing of a public offering of 772,628 shares of its common stock with warrants at $4.53 per share. The offering includes warrants to purchase up to 772,628 shares at an exercise price of $4.405 per share, expiring in five years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.5%
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Rhea-AI Summary
ToughBuilt Industries, Inc. aims to achieve positive operating cash flow by Q3 2024 through launching new products, cost-saving measures, and potential price adjustments. The company plans to expand into new markets and collaborate with global retail partners for growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-22.81%
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Rhea-AI Summary
ToughBuilt Industries, Inc. announced the release of 16 additional products to its StackTech® mobile toolbox system, disrupting the market and generating significant retail response and global interest. The Toolbox category is projected to expand at a CAGR of 8.3% from 2022 to 2032, with an expected market share of USD 6.8 Billion by 2032.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.41%
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none
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Rhea-AI Summary
ToughBuilt Industries, Inc. (NASDAQ: TBLT) will undergo a reverse stock split at a ratio of 1 post-split share for every 65 pre-split shares, effective January 1, 2024. The reverse stock split aims to reduce the number of outstanding shares from 36,915,222 to approximately 567,927 shares, with proportional adjustments to equity awards and warrants. ToughBuilt's common stock will continue to be traded on the Nasdaq Capital Market under the symbol 'TBLT' on a split-adjusted basis starting January 2, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.6%
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none
Rhea-AI Summary
ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) reported a 9% increase in revenue quarter-over-quarter to $20.6 million, with operating expenses decreasing by 11% year-over-year to $15.4 million, saving over $2 million. However, revenues decreased by approximately 32% to $20.6 million for Q3 2023 compared to $30.2 million in Q3 2022 due to decreased market demand. Gross profit and margin also decreased, but operating expenses decreased by 23.8%. Net loss attributable to common shareholders in Q3 2023 was approximately $8.4 million compared to net income of approximately $539 thousand in Q3 2022. ToughBuilt announced a dividend of Series H preferred stock to holders of ToughBuilt common stock and launched the StackTech™ mobile stacking toolbox system with more than 7 SKUs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.16%
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Rhea-AI Summary
ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) to Hold Earnings Call to Discuss 2023 First Quarter Financial Results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.81%
Tags
conferences earnings
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Rhea-AI Summary
ToughBuilt enters the Stacking Tool Storage and Toolbox market with its StackTech™ system, projected to expand at a CAGR of 8.3% and reach a market share of USD 6.8 Billion by 2032. The launch has gained significant social media attention, with over 19 million impressions in two weeks.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.56%
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none
Rhea-AI Summary
ToughBuilt announces dividend of Series H Preferred Stock for outstanding common stock shareholders. Each share of Series H Preferred Stock has 1,000,000 votes per share. Non-present shares will be automatically redeemed. Details in Form 8-K.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.17%
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none
Toughbuilt Industries Inc

Nasdaq:TBLT

TBLT Rankings

TBLT Stock Data

1.90M
567.93k
16.82%
12.45%
Hosiery and Sock Mills
Manufacturing
Link
US
Glendale

About TBLT

our name says it all.