Cool Holdings, Inc. Plans Continued Expansion

MIAMI, September 18, 2018 – Cool Holdings, Inc. (NASDAQ: AWSM) announced plans to continue the expansion of both its Apple® Boutique stores under the OneClick® brand and its Cooltech Distribution business. Over the course of the last year, the Company has acquired or opened 4 OneClick® stores in Florida, 6 stores in Argentina and 7 stores in the Dominican Republic.

Felipe Rezk, Chief Sales and Marketing Officer of Cool Holdings, Inc. stated: “We plan to grow our OneClick® footprint through a combination of both organic growth with the development and construction of our own stores and acquisition of strategic Apple® retailers across the Americas. Our plan is to aggressively grow our store footprint from 17 stores today to approximately 200 stores by 2021, provided we can arrange the proper funding. Contemporaneously, we plan to grow sales at our Cooltech Distribution unit. Cooltech Distribution serves as both an internal supply partner to all our OneClick® stores, as well as a supplier to other Apple® and big box retailers. Cooltech maintains direct sourcing relationships with accessory manufacturers such as Bose, Belkin, Clik, EVE, JBL, Klipsch, Moshi, Sonos, Speck, Tech 21, Thule, Transcend and Zagg-Mophie, amongst others. Growing both our retail footprint and our distribution business will enable us to leverage our resources, grow sales and increase profitability.”

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands. It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick® stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®, a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to expansion of our stores in various geographic regions, increases in sales and profitability, acquisitions and continuation of our license agreements with Apple®, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Contact:

Vernon A. LoForti

vern.loforti@infosonics.com

858-373-1675

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Cool Holdings, Inc. Announces the New Lineup of iPhones Coming to its OneClick Stores

Expected U.S. iPhone Launch Date: October 15, 2018

Miami, September 17, 2018 – Cool Holdings, Inc. (NASDAQ:AWSM) announced today that it is preparing its OneClick® Apple boutique retail stores for the anticipated customer demand following the announcement last week by Apple® of the new iPhone lineup. The Company expects that its U.S. stores will launch the OneClick® stores new iPhone XS, iPhone XS Max and iPhone XR on or about October 15, 2018. This includes the four OneClick® stores in Florida located in Sawgrass Mills, Dolphin Mall, Orlando International Premium Outlet Mall and Wynwood. Availability at its stores in Argentina and the Dominic Republic will be announced shortly. The Company also announced that it will reduce the prices of all previous iPhone models by up to $100.

“Our goal is to make available to our customers the latest Apple products as soon as they are announced, both in our OneClick® stores and online,” said Felipe Rezk, Chief Sales and Marketing Officer of Cool Holdings Inc. “We will also offer the latest accessories for the new iPhones, including cases, cables, adapters, speakers and external batteries, among others.”

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands. It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick® stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®, a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to anticipated customer demand, increases in sales and performance at our retail stores and our license agreements with Apple®, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Contact:

Vernon A. LoForti

vern.loforti@infosonics.com

858-373-1675

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Cool Holdings, Inc. Highlights Its New OneClick Apple Premium Reseller (“APR”) Store, The First Ever in The Dominican Republic

MIAMI, September 17, 2018 – Cool Holdings, Inc. (NASDAQ: AWSM) highlighted its new Flagship OneClick® store in Agora Mall in Santo Domingo. Recently acquired as part of a 7-store chain, the Agora Mall store with 1,590 square feet is the largest Apple® authorized reseller retail location in the Dominican Republic. Designed as an extension of the Apple® brand experience and Apple’s focus to improve its Latin American growth strategy, the store is located in a heavy traffic zone in the mall. Apple® Premium Reseller (“APR”) is the larger of the two Apple® store formats and OneClick is proud to have the first one in the Dominican Republic. Traffic at the store has grown to over 4,000 people per week and sales continue to rise.

Felipe Rezk, Chief Sales and Marketing Officer of Cool Holdings, Inc. stated: “We are extremely proud of this new Flagship store, and have aggressive goals to grow store sales to the level of APR stores in larger countries such as Chile, Argentina and Colombia. The OneClick® Agora Mall store is the embodiment of the APR Apple® experience. We believe our staff is among the finest in the country, and customers are able to experience first-hand the entire product portfolio from Apple® and third-party accessory manufacturers such as Bose, Speck, Belkin and Clik, among others.”

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands. It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick® stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®, a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to increases in sales and performance at our retail stores and our license agreements with Apple®, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Contact:

Vernon A. LoForti vern.loforti@infosonics.com 858-373-1675

Cool Holdings, Inc. Announces Another Opening of Its OneClick Apple Boutique Stores in Orlando, Florida

The Opening of this Official Apple® Premier Partner Store Further Expands OneClick’s Relations with Simon Property Group.  The Home of the 17th OneClick Store is Orlando’s Most Trafficked Mall with Over 17 Million Annual Visitors

MIAMIAug. 28, 2018 /PRNewswire/ — Cool Holdings, Inc. (NASDAQ : AWSM ) announces the grand opening of its new Apple® OneClick® retail store in the Orlando International Premium Outlet Mall.  The 1,500 square foot location will be an Apple® Premier Partner store and will offer the entire suite of Apple® products, as well as third party accessories complementing the customer experience.  The store will provide service repairs to all product categories with a trained team of Apple-certified technicians.

Commenting on the new opening, Felipe Rezk, Chief Sales and Marketing Officer of Cool Holdings, Inc. stated: “We are extremely excited about the opening of this store in Central Florida, and, specifically, in the Orlando International Premium Outlet Mall that has over 17 million visitors each year.  We are expanding our relation with Simon Property Group, one of the most important mall operators in the country.  The new store brings our number of U.S. stores to four in Florida, including the two Miami stores located at Dolphin Mall and the Wynwood Art District, and our flagship store in Sawgrass Mills in Sunrise.  We are in the process of a full renovation of our Dolphin Mall store and we anticipate the new concept will be ready around the Christmas season.  We are very proud of our team of sales professionals, as well as our Apple-certified technicians, who are dedicated to providing each customer with the ultimate customer experience at all our stores. OneClick is committed to expand its footprint in North America.”

The Company’s 17 OneClick® retail stores are now comprised of 7 stores in the Dominican Republic, 6 stores in Argentina and 4 stores in the United States.

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands.  It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick®  stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®,  a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

About Orlando International Premium Outlets

Orlando International Premium Outlets is Florida’s largest outlet shopping destination spanning over 773,586 square feet and welcoming more than 17 million visitors annually. Located in the heart of Orlando’s booming hospitality industry, the center is only 5 minutes from Universal Orlando Resort and 10 miles from Walt Disney World Resort. Visitors and locals will enjoy an array of more than 180 outlet designer and name-brand outlet stores including adidas, Calvin KleinKarl LagerfeldTory Burch, Polo Ralph Lauren, Tommy HilfigerSteve MaddenSalvatore Ferragamo, Michael Kors, Coach, kate spade New York, Saks Fifth Avenue Off 5th, St. John Outlet, Ted Baker London, Forever 21, Nike, Under Armour, Victoria’s Secret (only outlet in market), Havaianas and Guess. In addition, Orlando International Premium Outlets offers 20 distinct dining options including Vinito Ristorante, a full-service Italian restaurant. Dining selections cater to wide variety of tastes including international flavors from Brazil and Latin America.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

 

Cool Holdings, Inc. Announces Acquisition of Apple Boutique Store Retail Chain in the Dominican Republic

Expands OneClick Chain to 16 Stores

MIAMI, August 20, 2018 – Cool Holdings, Inc. (NASDAQ: AWSM) today announced that it has expanded its Apple® partnership by completing the acquisition of a chain of seven OneClick® retail stores in the Dominican Republic. OneClick® is a certified Apple® partner and authorized reseller of Apple® products and other high-profile accessory brands. The acquisition resulted from the exercise of an Option Agreement negotiated as part of the Merger with Cooltech Holding Corp. (“Cooltech”) which closed March 12, 2018. As outlined in the Option Agreement, as amended, consideration for the option exercise consists of $4.3 million plus 625,077 shares of Cool Holdings common stock issuable to the shareholders of Cooltech at the time of the Merger. The $4.3 million of cash consideration consists of $3.7 million of cash previously advanced to the seller, the repayment obligation of which was cancelled, and the assumption by Cool Holdings of $600,000 of debt, which is due in installments in October 2018 and April 2019. All of the common stock issuable in connection with the option exercise will be “restricted securities,” as defined in Rule 144(a)(3), promulgated under the Securities Act of 1933.

Commenting on the acquisition, Mauricio Diaz, Chief Executive Officer of Cool Holdings, stated: “The acquisition of the Dominican Republic stores has been contemplated for some time, and we are pleased to finally complete the transaction. This now brings our total store count to 16, including the 7 new stores in the Dominican Republic, our 6 stores in Argentina and 3 stores in Florida. OneClick in the Dominican Republic has the first ever APR (Apple® Premium reseller) as its flagship store in Agora Mall in Santo Domingo. In addition, Galeria 360 in Santo Domingo and Blue Mall in Punta Cana have undergone a thorough remodeling process to become the first AAR (Apple® Authorized Reseller Monobrand) stores in the Dominican Republic. The remaining 4 stores (Blue Mall, Sambil and Piantini in Santo Domingo, and Santiago de los Caballeros) will be remodeled in the upcoming months. Through this acquisition we expect to leverage our resources, expertise and management talent to grow our revenue base as we work to drive our Company to profitability.”

The Company notes that following the issuance of the shares of common stock under the transaction, it will have 7,086,743 common shares outstanding. The Company further notes that it erroneously stated its outstanding share capital in a previous press release dated August 16, 2018, which this press release corrects.

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands. It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick® stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®, a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to expansion of our stores in various geographic regions, optimization of inventory levels, increases in sales and profitability, deleveraging our balance sheet, acquisitions, and continuation of our license agreements with Apple®, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Contact:

Vernon A. LoForti vern.loforti@infosonics.com 858-373-1675

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Cool Holdings, Inc. Announces Completion of $11.4 Million Debt Exchange

MIAMI, August 16, 2018 – Cool Holdings, Inc. (NASDAQ: AWSM) today announced that it has completed an exchange of $11.4 million of outstanding debt and related accrued interest into approximately 3,110,000 units at a price of $3.68 per unit. Each unit was comprised of (i) one share of common stock or 0% Series A Preferred stock of the Company and (ii) a warrant to purchase one share of common stock of the Company with an exercise price of $3.56 per share. The warrants are exercisable beginning six months after issuance and expire three years from the date of issuance. Each share of preferred stock is convertible into common stock on a one-for-one basis. The exchange of units for outstanding debt and related accrued interest was made in reliance on the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Act”), provided by Section 3(a)(9) of the Act., and all of the securities issued in the transaction are “restricted securities.,” as defined in Rule 144(a)(3), promulgated under the Act. Following the transaction, the Company now has 7,202,284 common shares outstanding.

Commenting on the exchange, Mauricio Diaz, Chief Executive Officer of Cool Holdings stated: “We are pleased to complete this transaction that significantly enhances our capital structure, eliminates future debt service requirements and significantly improves our balance sheet. We are now moving forward with our plans to grow our chain of OneClick retail stores into new geographic regions and raise additional working capital to fuel sales growth.”

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands. It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick® stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®, a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to expansion of our stores in various geographic regions, optimization of inventory levels, increases in sales and profitability, deleveraging our balance sheet, acquisitions, and continuation of our license agreements with Apple®, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Contact:

Vernon A. LoForti vern.loforti@infosonics.com 858-373-1675

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Cool Holdings, Inc. Announces Ticker Symbol Change to “AWSM”

MIAMI, July 9, 2018 – Cool Holdings, Inc. (NASDAQ: IFON) today announced that its ticker symbol on the Nasdaq Capital Market will change to “AWSM” from “IFON.”  Trading under the new ticker symbol will begin at market opening on Wednesday, July 11, 2018.

“In conjunction with our recently announced name change, and in line with our expanding corporate strategy, a fresh symbol is an important step to represent the new corporate ideologies of Cool Holdings,” said Mauricio Diaz, the Company’s Chief Executive Officer.  “We are intensely focused on execution of our strategy and building value for our shareholders.”

No action is needed from the Company’s current shareholders relative to the ticker symbol change.  The common stock will continue to be listed on Nasdaq and the CUSIP number will remain unchanged as 21640C105.

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focused on premium retail brands.  It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Cooltech Distribution, an authorized distributor to the OneClick®  stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®,  a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its website at www.coolholdings.com.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

 

Contact:                                                                                                   

Vernon A. LoForti
vern.loforti@infosonics.com
858-373-1675

 

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InfoSonics Announces Strategic Name Change to Cool Holdings, Inc.

“Focus on Profitable Growth of Premium Retail Brands”

MIAMI, June 14, 2018 /PRNewswire/ — InfoSonics Corporation (NASDAQ: IFON) today announced that it has changed its name to Cool Holdings, Inc. (the “Company”), effective today.  The Company’s stock symbol remains unchanged at this time, but the name change resulted in a new CUSIP number (21640C 105) for the Company’s common stock offered on the Nasdaq Capital Market.  The Company intends to soon launch a new corporate website at www.coolholdings.com, which will include a new investor relations section containing stock information, corporate governance information and other materials of interest to investors.

“The name change to Cool Holdings represents a shift and diversification of our strategy,” said Andy DeFrancesco, Chairman of the Board.  “Effective today our focus is to continue the expansion of our strong partnership with Apple®, one of the world’s largest and most iconic brands, and to exploit additional investment and acquisition opportunities of minority and majority interests in other premium retail brands to accelerate profitable growth.”

“We will continue expanding the retail footprint of our OneClick® branded stores to become the largest authorized reseller of Apple® products and services in the Americas.  Cool Holdings will fully leverage the experience and successful track record of our board of directors and strategic investors, who have been involved in other premium brands such as Cold Stone Creamery, Pinkberry Frozen Yogurt, Blimpie Subs, Taco Time, Jamba Juice and Aphria MMJ.  We believe that our team’s global network, retail operational experience, ability to acquire prime retail locations and storefronts, coupled with our marketing and execution ability and commitment to success will translate to profitable growth of our Company, and ultimately to handsome returns to our shareholders.”

About Cool Holdings, Inc.

Cool Holdings is a Miami-based company focusing on premium retail brands.  It is currently comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; CoolTech Distribution, an authorized distributor to the OneClick®  stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®,  a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its websites at www.infosonics.comwww.cooltech.co/site/www.oneclickstore.com and www.verykool.net.

Forward-looking and cautionary statements
Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to acquisition of premium retail brand operations, expansion of our OneClick® retail store base, continuation of our license agreements with Apple®, comparisons to other successful retail operations, reliance upon the expertise of others and achievement of profitable growth, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

SOURCE InfoSonics Corporation; Cool Holdings, Inc.

Related Links

http://www.coolholdings.com
http://www.infosonics.com

 

InfoSonics Announces $3.7 Million Public Offering

Funding to Continue its Apple® Premier Partner Store Expansion under the OneClick® Brand

MIAMIJune 6, 2018 /PRNewswire/ — InfoSonics Corporation (“InfoSonics” or the “Company”) (NASDAQ: IFON) today announced that it has closed a public offering of securities to new and existing investors wherein it raised aggregate proceeds of approximately $3.7 million.  The Company sold approximately 1,183,000 units at an offering price of $3.14per unit.  Each unit was comprised of (i) one share of common stock or 0% Series A Preferred stock of the Company and (ii) and a warrant to purchase one share of common stock of the Company with an exercise price of $3.02 per share. The warrants are exercisable beginning six months after issuance and expire three years from the date of issuance.  Each share of preferred stock is convertible into common stock on a one-for-one basis.

The offer and sale of the shares of common stock and shares underlying the convertible preferred stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-204469), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on June 5, 2015. The convertible preferred stock, the warrants and shares issuable upon exercise of the warrants were offered in a concurrent private placement pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and Regulation D promulgated thereunder.

Commenting on the fundraising, Mauricio Diaz, Chief Executive Officer of InfoSonics stated: “We intend to use the proceeds from this offering to fund the growth of our OneClick® retail stores, primarily for inventory and other working capital.  After our merger with Cooltech Holdings Corp. on March 12, 2018, we are now working to optimize inventory levels at our existing stores to increase sales and profitability.  We currently operate 3 stores in Miami, Florida, with a 4th store under construction in Orlando and plans for expansion into other Florida markets.  In Argentina we currently operate 6 stores, including our newest store opened in Buenos Aires, with plans to open 7 new stores across Argentina in the next year.”

Commenting further, Diaz added: “Apple® has announced a focus on expansion in Latin America, and we are working with Apple® to be an integral part of that expansion.  In addition, upon Apple®‘s approval, we hope to expand into other U.S. markets, as well as into Canada in the next year.  We are working now to deleverage our balance sheet to position ourselves for growth both organically and through acquisition, with a focus on our longer-term goal to become the largest authorized reseller of Apple® products and services in the Americas.”

 

About InfoSonics Corporation

InfoSonics is a Miami-based company comprised of OneClick®, a chain of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs; Icon Networks, an authorized distributor to the OneClick®  stores and other resellers of Apple® products and other high-profile consumer electronic brands; and verykool®,  a brand of wireless handsets, tablets and related products the Company sells to carriers, distributors and retailers in Latin America. Additional information can be found on its websites at www.infosonics.comwww.cooltech.co/site/,  www.oneclickstore.com and www.verykool.net.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to expansion of our stores in various geographic regions, optimization of inventory levels, increases in sales and profitability, deleveraging our balance sheet, acquisitions, and continuation of our license agreements with Apple®, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple®. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

Apple® is the registered trademark of Apple Inc.

InfoSonics and Cooltech Announce Merger Closing

MIAMIMarch 12, 2018 /PRNewswire/ — InfoSonics Corporation (“InfoSonics” or the “Company”) (NASDAQ: IFON) and Cooltech Holding Corp. (“Cooltech”) today announced the successful completion of the merger of the companies effective March 12, 2018.  Cooltech is now a wholly-owned subsidiary of InfoSonics and the Company’s common stock will continue to trade on the NASDAQ Capital Market under the stock ticker symbol “IFON.”

Pursuant to the merger agreement, Cooltech shareholders received 1,874,769 InfoSonics shares consisting of 1,241,000 common shares and 633,769 shares of the Company’s 0% Series A Convertible Preferred Stock (“Preferred Stock”) to those Cooltech shareholders who, as a result of receiving common stock, would own in excess of 4.99% of the Company’s common stock after the merger, in exchange for each share of the Cooltech’s capital stock outstanding immediately prior to the merger.

In addition, in accordance with the terms of a Securities Purchase Agreement, dated as of August 3, 2017 between the Company and certain accredited investors, the Company issued an aggregate of 175,000 shares of common stock and 175,000 warrants to purchase 175,000 shares of common stock in exchange for an aggregate of $1.75 million in cash.

InfoSonics now has approximately 2,726,000 shares outstanding, which includes 633,769 shares underlying Preferred Stock.

“Today marks a significant milestone in the histories of both InfoSonics and Cooltech,” said Mauricio Diaz, President and CEO of InfoSonics.  “We are extremely excited to complete the merger and move forward to execute our strategy as an Apple licensed partner to grow our retail footprint under our OneClick branded stores.  We are one of a limited number of partners under the Apple Premium Reseller and Apple Authorized Reseller Mono-Brand programs in Latin America and the United States, and hope to expand into other countries in the near future.  In addition, we want to take advantage of the synergies between our distribution business and verykool®, and provide all InfoSonics shareholders with the opportunity for growth to maximize the value of our Company.”

About Infosonics Corporation

InfoSonics is a Miami-based company comprised of OneClick International, LLC and OneClick License LLC, a chain of retail stores and an Apple authorized reseller under the Apple Premier Partner, APR (Apple Premium Reseller) and AAR MB (Apple Authorized Reseller Mono-Brand) programs; Icon Networks, LLC, an authorized distributor to the OneClick stores and other resellers of Apple products and other high-profile consumer electronic brands; and a provider of wireless handsets, tablets and related products to carriers, distributors and retailers in Latin America under the verykool®  brand. Additional information can be found on its websites at www.infosonics.comwww.cooltech.co/site/www.oneclickstore.com and www.verykool.net.

No offer or solicitation

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, as well as the Proxy/Registration Statement on Form S-4/A, filed with the Securities and Exchange Commission on February 9, 2018, which can be reviewed at www.sec.gov. We make no representation or warranty that the information contained herein is complete and accurate, and we have no duty to correct or update any information contained herein.

Reference: CISION PR Newswire. Ir a nota…