Item 1.01. Entry into a Material Definitive Agreement.
On July 16, 2021, Byrna Technologies Inc. (the "Company") entered into an
underwriting agreement (the "Underwriting Agreement") with Raymond James &
Associates, Inc. as representatives of the several underwriters set forth on
Schedule I thereto (collectively the "Underwriters"), relating to the Company's
public offering of its common stock, par value $0.001 per share (the "Common
Stock"). Under the Underwriting Agreement, the Company agreed to issue and sell
an aggregate of 2,500,000 shares of Common Stock to the Underwriters at a
purchase price per share of approximately $19.74 (the offering price to the
public of $21.00 per share minus the underwriting discount and commissions) and
also granted the Underwriters an option (the "Option") to purchase up to an
additional 375,000 shares of Common Stock at the same price for a period of 30
days following July 16, 2021. The Underwriters exercised the Option in full on
July 16, 2021, and the sale of the 2,875,000 shares of Common Stock to the
Underwriters closed on July 20, 2021.
The Underwriting Agreement includes customary representations, warranties and
covenants by the Company. It also provides that the Company will indemnify the
Underwriters against certain liabilities under the Securities Act of 1933, as
amended, or contribute to payments the Underwriters may be required to make
because of any of those liabilities.
Certain of the Underwriters and their respective affiliates have, from time to
time, performed, and may in the future perform, various investment banking
services for the Company for which they received or will receive customary fees
Item 9.01. Financial Statements and Exhibits.
1.1 Underwriting Agreement, dated July 16, 2021, between the Company and
Raymond James & Associates, Inc. as representatives of the underwriters
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