GlobeNewswire

Lytus Technologies Announces Pricing of $12.4 Million Initial Public Offering

Mumbai, India, June 14, 2022 (GLOBE NEWSWIRE) -- Lytus Technologies Holdings PTV. Ltd. (the “Company”), a platform technology services company with nearly 8 million users and with operations in the USA and India, today announced the pricing of its initial public offering of 2,609,474 common shares at a public offering price of $4.75 per share, for gross proceeds of approximately $12.4 million, before deducting offering expenses. In addition, the Company has granted the underwriters a 45 day option to purchase up to an additional 391,421 common shares at the initial public offering price, less the underwriting discount.

The shares are expected to begin trading on the Nasdaq Capital Market on June 15th, 2022 under the ticker symbol “LYT.” The offering is expected to close on June 17, 2022, subject to satisfaction of customary closing conditions.

Spartan Capital Securities, LLC and Pacific Century Securities, LLC are acting as joint book-runners for the offering.

A registration statement on Form F-1 (File No. 333-254943) relating to the common shares was filed with the Securities and Exchange Commission (the “SEC”) and became effective on June 14, 2022. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained on the SEC’s website, www.sec.gov, or from Spartan Capital Securities, LLC, 45 Broadway - 19th Floor, New York, NY 10006, by phone at (212) 293-0123, or by email at investmentbanking@spartancapital.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contact:
Rajeev Kheror
Lytus Technologies Holdings PTV. Ltd.
rajeev@lytuscorp.com