FKBR LEGAL REPRESENTS HARBOR CUSTOM DEVELOPMENT INC. IN CLOSING $10 MILLION OVERNIGHT PUBLIC OFFERING
May 23, 2023
Partner, Lynne Bolduc; Associate Attorney, Josephine Rachelle Aranda; and Corporate and Securities Paralegal, Kaylee Poynter of FitzGerald Kreditor Bolduc Risbrough LLP (FKBR) represented Harbor Custom Development, Inc. (NASDAQ: HCDI, HCDIP, HCDIW, and HCDIZ) in its recent $10 million registered direct at-the-market “overnight public offering.”
On May 18, 2023, Harbor Custom Development closed on the sale of 1,951,218 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase 1,951,218 shares of common stock at a combined public offering price of $5.125 per share (or pre-funded warrant in lieu thereof) and accompanying warrant. The gross proceeds to Harbor from the offering were approximately $10 million. H.C. Wainwright & Co. acted as the exclusive Placement Agent for the offering.
The FKBR team also represented Harbor Custom Development in its:
Initial public offering (IPO) of $12.2 million which closed on September 1, 2020;
Follow-on public offering of $27.6 million which closed on January 15 and 20, 2021;
Preferred public offering of $31.4 million which closed on June 11 and 30, 2021; and
Follow-on preferred public offering of $41 million which closed on November 5, 2021.
Harbor Custom Development has now raised a total of more than $122.2 million in its public offerings over the last three years with the FKBR team.
While it didn’t exactly happen overnight, the offering documents were filed with the Securities and Exchange Commission (SEC) on May 1, 2023 and declared effective on May 16, 2023, and the offering closed on May 18, 2023.
About Harbor Custom Development
Harbor Custom Development is a real estate development company involved in all aspects of the land development cycle, including land acquisition, entitlements, construction of project infrastructure, home and apartment building, marketing, and sales of various residential projects in Western Washington’s Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida. Harbor Custom Development is included in the Russell Microcap Index.
How is FitzGerald Kreditor Bolduc Risbrough LLP Supporting Harbor Custom Development with Public Offerings?
The securities law attorneys at the Southern California law firm, FitzGerald Kreditor Bolduc Risbrough LLP, assisted Harbor Custom Development with every aspect of their public offerings. They continue to represent Harbor with its SEC reporting obligations and other matters related to corporate governance and compliance. Managing a public offering requires specialized knowledge in a multitude of legal areas and is a complex process. FitzGerald Kreditor Bolduc Risbrough LLP is well equipped to facilitate such transactions with a fully staffed corporate and securities department with experienced attorneys.
Experienced Securities Law Attorney in California
Lynne Bolduc, Partner at FitzGerald Kreditor Bolduc Risbrough LLP, has nearly 30 years of experience as a corporate and securities attorney. Ms. Bolduc not only represents public companies but also private companies and ventures that are seeking financing in a private or public offering or pursuing transactions, such as a sale, merger, or acquisition.
Need Assistance with a Public or Private Offering or Other Transaction?
Start-ups, entrepreneurs, and businesses considering a private or public offering or other transaction should contact Lynne Bolduc at (949) 788-8900 or by email to LBolduc@FKBRLegal.com to schedule a confidential consultation to evaluate their options.
