Aterian (NASDAQ: ATER) today announced that it has entered into a securities purchase agreement with several institutional investors for a private placement of the company’s common stock. The company expects to secure approximately $40 million in gross proceeds from the private placement before deducting agent fees and other transaction-related expenses. Aterian will issue 2,666,667 shares, which will each be sold at a purchase price of $15.00. “Today we are strengthening our investor base and adding growth capital to drive our accretive M&A strategy. We are continuing to focus on building a diversified portfolio of e-commerce brands leveraging our technology and supply chain platform,” said Yaniv Sarig, founder and CEO of Aterian. “While our industry continues to be affected by the global supply chain crisis, we are determined to pursue additional growth opportunities that will, in the longer term, drive economies of scale, pricing power and efficiencies across our portfolio once supply chain normalcy is restored.”
To view the full press release, visit https://ibn.fm/3KLwe
About Aterian Inc.
Aterian is a leading technology enabled consumer products platform that builds, acquires and partners with best-in-class e-commerce brands by harnessing proprietary software and an agile supply chain to create top-selling consumer products. The company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (“AIMEE(TM)”), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world’s largest online marketplaces, including Amazon, Shopify and Walmart. Aterian has thousands of SKUs across 14 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty, and consumer electronics. For more information about the company, visit www.Aterian.io.
NOTE TO INVESTORS: The latest news and updates relating to ATER are available in the company’s newsroom at https://ibn.fm/ATER
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