FreeCast Announces Pricing of a $23.7 Million Private Placement of Common Stock with New Institutional and Existing Long-Term Investors
FreeCast, Inc. (Nasdaq: CAST), a provider of next-generation streaming media Platform-as-a-Service (PaaS) solutions (the "Company"), today announced that it has entered into securities purchase agreements with new institutional and existing long term investors for the purchase and sale of 4,666,667 shares of its Class A common stock (the “Common Stock”) and pre-funded warrants to purchase 3,243,807 shares of Common Stock in a private placement transaction. The pre-funded warrants have an exercise price of $0.0001 per share, will be exercisable immediately following receipt of shareholder approval and do not expire until the pre-funded warrant is exercised. The gross proceeds from the offering are expected to be approximately $23.7 million, before deducting placement agent fees and other estimated offering expenses.
The closing of the offering is expected to occur on or about July 2, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.
