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Vocodia Holdings Corp Announces Closing of $5.95 Million Initial Public Offering and the First IPO to be Listed on The BZX Exchange of CBOE Global Markets

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Vocodia Holdings Corp (VHAI) successfully closes its underwritten initial public offering, raising $5.95 million. The IPO consists of 1,400,000 Units, including common stock, Series A Warrants, and Series B Warrants. The Company also granted underwriters an option to purchase additional shares. The offering price per Unit was $4.2500, with gross proceeds of $5,558,764.75 received. The stock, along with the warrants, began trading on the BZX Exchange under ticker symbols 'VHAI,' 'VHAI+A,' and 'VHAI+B'. The net proceeds will be used for acquisitions, technology development, product expansion, sales, marketing, and general corporate purposes.
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The completion of Vocodia Holdings Corp's initial public offering (IPO) represents a significant milestone for the company, injecting substantial capital into its operations. The raised funds, amounting to $5.95 million, are poised to catalyze Vocodia's strategic initiatives, including acquisitions and technology enhancements. The dual issuance of both common stock and warrants (Series A and B) offers investors varied leverage and risk exposure opportunities. The warrants, in particular, with exercise prices of $5.5250 and $8.5000, provide insights into the company's future valuation expectations.

From a financial perspective, the underwriters' partial exercise of their over-allotment option, specifically targeting Series B Warrants, suggests a cautious but optimistic outlook on the company's long-term growth potential. It is also noteworthy that the IPO is the first to be listed on the BZX Exchange of CBOE Global Markets, potentially expanding investor reach and visibility for Vocodia.

The intended use of net proceeds for business expansion and technological advancements indicates a growth-oriented strategy, which could enhance Vocodia's competitive position in the AI software market. However, investors should monitor the deployment of these funds closely to ensure they are utilized effectively to drive shareholder value.

The AI software industry is a rapidly evolving landscape, with significant growth potential. Vocodia Holdings Corp's entry into the public market could signal a strategic move to capitalize on this growth. The company's focus on practical AI functions suggests an aim to address concrete market needs rather than theoretical applications. This pragmatic approach could resonate well with investors who prioritize tangible product offerings and market-ready solutions.

The decision to use IPO proceeds for the acquisition of websites and technologies indicates an aggressive expansion strategy that could enable Vocodia to scale quickly and integrate new capabilities. This is a common move for tech companies looking to stay ahead in a competitive sector. However, the success of such acquisitions will depend on the company's ability to seamlessly integrate new assets and technologies without disrupting existing operations.

Investors should also consider the broader market context, including the competitive landscape of AI software providers and how Vocodia's product offerings and market strategy align with current industry trends and demands. The company's performance post-IPO will be a key indicator of its ability to execute its strategic plans and deliver on its growth promises.

The legal framework surrounding Vocodia's IPO, particularly the compliance with the registration requirements of the Securities Act of 1933, as amended, is crucial for investor confidence. The effectiveness of the registration statement by the SEC and the role of legal counsel in advising both the company and the underwriters underscore the importance of due diligence and regulatory compliance in public offerings.

Investors should take note of the legal provisions, including the 45-day option granted to underwriters to purchase additional securities, which could potentially dilute existing shares. The legal intricacies of the warrants, such as the specific terms and conditions of their exercise, are also significant for investors to understand, as they can impact the future financial structure of the company.

It is essential for stakeholders to review the final prospectus and other legal documents associated with the IPO to fully grasp the terms of the offering and the rights conferred by the securities purchased. The legal framework not only protects investors but also establishes the foundation for Vocodia's obligations and representations to its new shareholders.

Shares, Series A Warrants and Series B Warrants Trading under Ticker Symbols "VHAI", "VHAI+A", and "VHAI+B", respectively

CHICAGO, Feb. 26, 2024 /PRNewswire/ -- Vocodia Holdings Corp (CBOE: VHAI) ("Vocodia" or the "Company"), an AI software company that builds practical AI functions, today announced the closing of its underwritten initial public offering of 1,400,000 Units (collectively the "Units" or "Unit"), each consisting of one share of common stock of the Company, par value $0.0001 ("Common Stock"), one Series A Warrant to purchase one share of Common Stock exercisable at $5.5250 (the "Series A Warrant"), and one Series B Warrant to purchase one share of Common Stock exercisable at an exercise price of $8.5000 (the "Series B Warrant"), at a public offering price of $4.2500 per Unit (the "Public Offering Price").

Vocodia Announces Closing of $5.95 Million IPO and the First IPO to be Listed on The BZX Exchange of CBOE Global Markets

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 210,000 shares of Common Stock and/or Series A Warrant and/or Series B Warrants, which may be purchased in any combination of Common Stock, Series A Warrant and Series B Warrants at the Public Offering Price, less the underwriting discount. On February 26, 2024, the underwriters partially exercised their over-allotment option to purchase an additional 70,118 Series B Warrants for a total consideration of $8,764.75.

On February 26, 2024, the Company received gross proceeds from the offering, before underwriting discounts and commissions and estimated offering expenses payable by the Company of $5,558,764.75. Prior to February 29, 2024, the Company expects to receive an additional $400,000 in gross proceeds from the offering, less any variation in the Public Offering Price of the Units after February 26, 2024, and before underwriting discounts and commissions and estimated offering expenses payable by the Company.

The Common Stock, the Series A Warrants and the Series B Warrants began trading on the BZX Exchange, a division of Cboe Global Markets, on February 22, 2024, under the ticker symbols "VHAI," "VHAI+A" and "VHAI+B", respectively.

The Company intends to use the net proceeds of the public offering for the acquisition of websites, technologies, or other assets, building an improved switch, and for expanding its product offering from other digital channels, sales and marketing, working capital and other general corporate purposes.

Advisor Details

Alexander Capital, L.P. acted as sole book-running manager for the offering. Sichenzia Ross Ference Carmel LLP served as counsel to the Company. Sullivan & Worcester LLP served as counsel to the underwriters.

The securities described above have been offered by Vocodia pursuant to a registration statement on Form S-1, as amended (File No. 333-269489) that was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on February 14, 2024. The offering was made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus related to the offering, when available, may be obtained from Alexander Capital, L.P., 10 Drs James Parker Boulevard #202, Red Bank, NJ 07701, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing info@alexandercapitallp.com or by logging on to the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Vocodia Holdings Corp.

Vocodia is an AI software company that build practical AI functions and makes them easily obtainable for businesses on cloud-based platform solutions at low costs and scalable to multiagent vast enterprise solutions. Vocodia is a conversational AI software developer and provider that offers scalable enterprise-level AI sales and customer service solutions which allow for AI sales representatives to reduce human labor costs and responsibilities while increasing the reach and efficacy of human-led, purposeful, agenda driven and conversational communications. Vocodia deliver its patent pending conversational AI software in the form of Digital Intelligent Sales Agents (the "DISAs"), which are built with AI software programmed to sound and feel human and to perform business tasks that require humans to converse with one another effectively, and thus to provide the best representation for each of its customers' businesses. For more information, please visit: www.vocodia.com.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.  Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's Registration Statement on Form S-1 related to the public offering (SEC File No. File No. 333-269489) and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, our actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and undertake no duty to update such information except as required under applicable law.

Contact:
Jeff Ramson
PCG Advisory
646-863-6893
jramson@pcgadvisory.com

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SOURCE Vocodia Holdings

The ticker symbol for Vocodia Holdings Corp is 'VHAI'.

Vocodia Holdings Corp raised $5.95 million in its initial public offering.

The offering price per Unit in Vocodia Holdings Corp's IPO was $4.2500.

The stock of Vocodia Holdings Corp started trading on the BZX Exchange on February 22, 2024.

Vocodia Holdings Corp will use the net proceeds for acquisitions, technology development, product expansion, sales, marketing, and general corporate purposes.

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