VirTra files preliminary offering circular with the SEC
TEMPE, Ariz. — VirTra, Inc. (OTCQX: VTSI), (the “Company”), a global provider of training simulators for the law enforcement, military, educational and commercial markets, announced that it has filed a preliminary offering circular with the Securities and Exchange Commission (“SEC”) pursuant to the Regulation A framework, which is open to both accredited and unaccredited investors. VirTra also intends to file an application to list its common stock on the NASDAQ Capital Market (“NASDAQ”) under the symbol “VTSI.”
The purpose of the filing is to enable the Company to issue new shares of common stock to raise gross proceeds of between $5 million and $10 million. Boustead Securities, LLC (“Boustead”) will serve as underwriter. Pricing will be determined at a future date, based on market conditions. The Company cannot predict the timing of when, or if, its offering statement will become qualified with the SEC and/or its application with NASDAQ will be approved, but expects to complete the transactions within 2017. For more information on the offering circular, visit www.sec.gov/edgar/searchedgar/companysearch.html.
“This potential offering and the launch of our uplisting efforts are key events in our plans to significantly expand our product and service offerings, greatly enhance our sales and marketing efforts, and ensure that VirTra is poised for growth through strategic acquisitions in our current industry, as well as in the broader virtual reality simulation sector,” said Bob Ferris, CEO, VirTra, Inc.
“Becoming an SEC registrant and uplisting to a national exchange, such as NASDAQ, may significantly increase our stature in the capital markets and help us enhance shareholder value. We are pleased to have Boustead Securities leading the effort, given that their expertise in the NASDAQ listing process and Regulation A has proven successful in the past,” said Ferris.
VirTra is a global provider of training simulators for the law enforcement, military, educational and commercial markets. The Company’s patented technologies, software and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship and related training that mimics real world situations. VirTra’s mission is to save and improve lives worldwide through realistic and highly-effective virtual reality and simulator technology. Learn more about VirTra at www.VirTra.com.