Manhattan Bridge Capital, Inc. Announces Closing of Over-Allotment Option Shares

GREAT NECK, N.Y., Aug. 31, 2016 -- Manhattan Bridge Capital, Inc. (NASDAQ:LOAN), a real estate finance company specializing in originating, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real estate, today announced that, on August 29, 2016,  Aegis Capital Corp., the sole underwriter of its previously announced public offering of 672,269 common shares at a price to the public of $5.95 per share, has elected to fully exercise the over-allotment option for an additional 100,840 common shares.  The closing with respect to these over-allotment option shares was consummated on August 31, 2016.  Gross proceeds to Manhattan Bridge Capital from the sale of the over-allotment option shares will be approximately $600,000 resulting in total gross proceeds from the offering of approximately $4,600,000, before deducting underwriting discounts and commissions and other estimated offering expenses.  

Aegis Capital Corp. acted as the sole book-running manager for the offering.

This offering was made pursuant to a shelf registration statement (File No. 333-203678) previously filed with the Securities and Exchange Commission (the “SEC”) and which became effective on May 18, 2015. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC on May 22, 2015, and a final prospectus supplement and accompanying base prospectus was filed with the SEC on May 26, 2015.  Electronic copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from the SEC’s website at www.sec.gov or from Aegis Capital Corp., 810 7th Avenue, 18th Floor, New York, NY 10019 or via telephone at 212-813-1010 or email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

Contact:
Assaf Ran, CEO
(516) 444-3400