JUPITER, Fla. - Safety Shot, Inc. (NASDAQ:SHOT), a wellness and dietary supplement company, announced today that its President, Jordan Schur, has made a substantial investment in the firm. Schur, through his family investment group Core 4 Capital Corp., has contributed $1 million in a private placement. This investment follows a previous $5 million private placement from Core 4 Capital Corp. that was completed in April 2024, coinciding with Schur's appointment as President.
The company successfully raised the gross proceeds from the issuance of 943,396 shares at a price of $1.06 per share, which corresponds to the closing price of the company's common stock on the day of the offering, without any discount applied. Notably, the offering did not include any warrants, and Safety Shot paid no commissions, resulting in minimal expenses associated with the financing.
Jordan Schur expressed his confidence in the company's potential and growth, citing the innovative nature of their flagship product and its market demand as key factors in his decision to invest. He emphasized the significance of this investment for the continued development of Safety Shot in its formative stages.
Safety Shot, Inc. has created a patented wellness product known as Safety Shot, which claims to reduce blood alcohol content by supporting its metabolism and enhancing clarity, energy, and overall mood. The product is available for purchase online, including on Amazon (NASDAQ:AMZN), and the company is planning to expand its business-to-business sales to various distributors, retailers, restaurants, and bars throughout the year.
The recent financial moves by Safety Shot and its President underline the company's efforts to secure funding without incurring significant costs typically associated with such offerings. This strategy ensures that a larger portion of the investment is directly allocated to the company's operations and growth initiatives.
The information for this report is based on a press release statement from Safety Shot, Inc.
In other recent news, Safety Shot, Inc. has reported significant strides in their expansion and product development efforts. The wellness and dietary supplement company recently partnered with Atlantic Beverage Distributors, extending its product distribution into the Northeastern markets of Massachusetts and Rhode Island. This move follows a recent partnership with Prime CSB for distribution in New York and New Jersey.
Safety Shot also announced a strategic partnership with Capital Drugs, a pharmacy chain with 300 locations nationwide, marking a considerable expansion of its retail presence across the United States. The company has also expanded its distribution to New York and New Jersey through a partnership with Prime CSB, a boutique broker.
Safety Shot launched its formula in a new 4-ounce bottle format, aimed at providing consumers with a more convenient way to access its product. The company successfully raised $5 million in funding from Core 4 Capital Corp through a private placement, issuing 2,369,668 shares at a price of $2.11 each to support the development of its flagship product. These are recent developments based on press release statements from Safety Shot, Inc.
InvestingPro Insights
In light of the recent private placement investment in Safety Shot, Inc. by its President Jordan Schur, it's worth examining some key financial metrics and InvestingPro Tips to gain a deeper understanding of the company's current market position. With a modest market capitalization of $54.87 million, Safety Shot is navigating the competitive wellness and dietary supplement landscape with a unique product aimed at reducing blood alcohol content.
An intriguing aspect of Safety Shot's financial health is its cash position relative to debt. According to an InvestingPro Tip, the company holds more cash than debt on its balance sheet, which is a positive sign for investors looking for companies with a solid financial footing. Furthermore, analysts are anticipating sales growth in the current year, which could indicate that the market is responding well to the company's flagship product and expansion efforts.
Still, it is not all smooth sailing for Safety Shot. The company's gross profit margins have been weak, with a gross profit of -$2.3 million and a margin of -678.6% for the last twelve months as of Q1 2024. Moreover, the stock price has experienced significant volatility, with a 233.18% return over the last year but a substantial drop of 55.65% over the last three months. This volatility is a factor that potential investors should consider when evaluating the company's performance and future prospects.
For those interested in digging deeper, there are 15 additional InvestingPro Tips available that provide further insights into Safety Shot's financial health and market performance. By visiting https://www.investing.com/pro/SHOT, readers can access these tips and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering valuable information for making informed investment decisions.
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