ToughBuilt Industries, Inc. ("ToughBuilt" or the "Company") (NASDAQ:TBLT, TBLTW))))), today announced the pricing of a public offering of 772,628 shares of its common stock (or pre-funded warrants in lieu thereof), together with warrants to purchase up to 772,628 shares of its common stock at an offering price to the public of $4.53 per share (or pre-funded warrant) and associated warrant. The warrants will have an exercise price of $4.405 per share, be exercisable upon issuance, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about February 16, 2024, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to the Company from the offering are expected to be approximately $3.5 million, before deducting the placement agent's fees and other offering expenses payable by ToughBuilt. The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital.