One Stop Systems announces debt financing

ESCONDIDO, Calif., April 21, 2020 (GLOBE NEWSWIRE) – One Stop Systems, Inc. (Nasdaq: OSS), a leader in specialized high-performance advanced computing, has reached definitive agreements in a registered offering S-3 with an institutional investor for the purchase of up to $ 6 million of the Company’s senior secured convertible notes.

The Notes have a fixed conversion price of $ 2.50 for the first six months, which is a premium greater than the closing price of the Company’s common shares on Monday, April 20, 2020, after which the fixed conversion price may be reset to a 135% premium. to VWAP on that six-month anniversary date or $ 2.50, whichever is lower. Tickets benefit from a 10% discount on the original issue.

The initial closing will be for an aggregate principal amount of $ 3 million, with the Company having the option of additional closings subject to certain conditions of equity no earlier than seven months after the initial closing. The initial closing is expected to generate gross proceeds of $ 2.7 million before the deduction of estimated sales agent fees and other offering costs. The proceeds will be used primarily for general corporate and working capital needs.

Roth Capital Partners is acting as sole placement agent for this offer.

The securities were offered in accordance with the company’s existing Form S-3 registration statement under the Securities Act of 1933, as amended.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Single Window Systems
One Stop Systems, Inc. (OSS) designs and manufactures innovative high-performance specialty computing modules and systems, including custom servers, compute accelerators, expansion systems, flash storage arrays, and ION storage software Accelerator. These products are used for deep learning, AI, defense, finance and entertainment applications, and empower scientists, engineers, creators and other professionals to push the boundaries of their industries.

OSS uses the power of PCI Express, the latest GPU accelerators, and NVMe storage to create award-winning systems, including many industry firsts, for OEMs and government customers. The company allows AI on the fly™ by bringing the performance of the AI ​​data center to the ‘edge’ and onto mobile platforms, and addressing the entire AI workflow from high-speed data acquisition to deep learning, training and inference. OSS products are available directly or through global distributors. For more information, visit www.onestopsystems.com.

Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. One Stop Systems is warning you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the current beliefs and expectations of the company. These forward-looking statements include statements regarding the expected timing of shipments and revenue forecasts. The inclusion of forward-looking statements should not be taken as a representation by One Stop Systems that any of our plans will be realized. Actual results may differ from those presented in this press release due to the risks and uncertainties inherent in our business, including, without limitation: the location of customer deployments, the timing of shipments by OSS and our ability to shutting down future production activities may not develop as we expect; global pandemics or other disasters or public health issues in areas of the world where we have operations or sources of material or sell products; and other risks described in our previous press releases and in our documents filed with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our annual report on Form 10-K and any filing later with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we assume no obligation to revise or update this press release to reflect any events or developments. circumstances subsequent to the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Media contact:
Katie rivera
One-Stop Systems, Inc.
Phone (760) 745-9883
Contact by e-mail

Investor Relations:
Ronald Both or Grant Stude
CMA
Phone (949) 432-7557
Contact by e-mail

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