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SurgePays Announces $15M At-The-Market Offering to Expand Lifeline Business and Working Capital
ByAinvest
Tuesday, Aug 5, 2025 5:59 pm ET1min read
SurgePays has entered into an At-The-Market Offering Agreement with Titan Partners Group LLC to potentially sell shares of its common stock with an aggregate offering price of up to $15 million. The proceeds will be used for the expansion of its Lifeline business, working capital, and general corporate purposes. Analysts have provided a neutral rating with a $9.00 price target, highlighting potential growth opportunities but also declining revenues and profitability issues.
SurgePays (NASDAQ: SURG), a wireless, fintech, and point-of-sale technology company, has entered into an At-The-Market Offering Agreement with Titan Partners Group LLC. This agreement, which allows SurgePays to potentially sell shares of its common stock with an aggregate offering price of up to $15 million, aims to support the expansion of its Lifeline business, working capital, and general corporate purposes [1].The proceeds from this offering will be used to bolster SurgePays' operations and strategic initiatives. The company's Lifeline business, which focuses on providing subsidized and non-subsidized mobile virtual network operators for internet connectivity, is expected to benefit significantly from the additional capital.
Analysts have provided a neutral rating with a $9.00 price target, acknowledging the potential growth opportunities for SurgePays but also highlighting the company's declining revenues and profitability issues. The neutral rating reflects the market's cautious stance on SurgePays' recent financial performance and future prospects [2].
SurgePays' management will host a conference call to discuss the second quarter 2025 financial results on Wednesday, August 13, 2025, after market close. Investors can access the live webcast through the company's IR website or via telephone using the access code 572711. The webcast replay will be available for one year [1].
References:
[1] https://www.stocktitan.net/news/SURG/surge-pays-to-host-second-quarter-2025-financial-results-conference-1v143dxlixbe.html
[2] https://www.marketbeat.com/stocks/NASDAQ/SURG/
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