GreenBox POS Announces Closing and Exercise of Full Over-Allotment Option of $50.1 Million Public Offering

SAN DIEGO, CA, Feb. 19, 2021 (GLOBE NEWSWIRE) -- GreenBox POS (NASDAQ:GBOX) (the “Company”), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions today announced the closing of an underwritten public offering of 4,772,500 shares of common stock at a public offering price of $10.50 per share, which included the full exercise of the underwriter's over-allotment option for 622,500 shares of common stock, for gross proceeds to the Company of $50,111,250 before deducting underwriting discounts and other offering expenses.

The Company received approval to list its common stock on the Nasdaq Capital Market under the symbol “GBOX”, with trading that began on February 17, 2021.

Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as sole bookrunning manager for the offering.

The United States Securities and Exchange Commission ("SEC") declared effective a registration statement on Form S-1 relating to these securities on February 12, 2021. A final prospectus relating to this offering was filed with the SEC. Copies of the final prospectus relating to this offering can be obtained at the SEC's website at or from Kingswood Capital Markets, division of Benchmark Investments Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention: Syndicate Department, or via email at or telephone at (212) 404-7002. Before investing in this offering, interested parties should read in their entirety the prospectus, which provides more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GreenBox POS

GreenBox POS is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, helping to reduce fraud and improve the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Investor Relations Contact:

Mark Schwalenberg
MZ Group - MZ North America