MIAMI, FL / ACCESSWIRE / July 12, 2021 / Cuentas, Inc. (NASDAQ:CUEN)(NASDAQ:CUENW), ('Cuentas' or 'the Company'), a leading FinTech provider of mobile banking App with digital wallet and payment solutions focusing on Latino and Hispanic consumers, today announced the receipt of $6.2 Million due to the exercise of warrants issued in February 2021. These warrants were issues as part of an underwritten public offering of 2,790,697 units at a price to the public of $4.30 per unit, raising approximately $12.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
The common stock and warrants have been trading on the Nasdaq Capital Market since February 2, 2021, under the symbols 'CUEN' and 'CUENW,' respectively.
The offering was conducted pursuant to the Company's registration statement on Form S-1, as amended (File No. 333-249690) previously filed with and declared effective on February 1, 2021 by the Securities and Exchange Commission ('SEC') and the Company's registration statement on Form S-1 (File No. 333-252642) which became effective on February 1, 2021.
Cuentas common shares reached a high price of $9.25 on June 30, 2021, closing at $6.22 per share with volume over 200 million shares traded in a single day. On June 30, 2021, Cuentas Warrants (CUENW) reached a high price of $3.95 with a closing price of $2.02 per share and volume over 2.8 million shares in a single day.
ABOUT CUENTAS
Cuentas, Inc. (CUEN) is a Fintech company utilizing technical innovation together with existing and emerging technologies to deliver accessible, efficient and reliable mobile, new-era and traditional financial services to consumers. Cuentas is proactively applying technology and compliance requirements to improve the availability, delivery, reliability and utilization of financial services especially to the unbanked, underbanked and underserved segments of today's society. Its products are supported by its core methods, procedures, contracts and intellectual property. For more information, visit https://cuentas.com.
FORWARD-LOOKING STATEMENTS
This news release contains 'forward-looking statements', as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as 'estimate', 'anticipate', 'believe', 'plan' or 'expect' or similar statements are forward-looking statements. Forward-looking statements contained in this news release include statements relating to other publicly available information regarding Cuentas.
Contact:
Cuentas Inc.
(800) 611-3622
info@cuentas.com
SOURCE: Cuentas, Inc.
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https://www.accesswire.com/655036/Cuentas-Inc-Announces-Receipt-of-62-Million-From-Conversion-of-Warrants-Related-to-the-S-1-Completed-in-February-2021
