TechPrecision Corporation announced it has entered into a Securities Purchase Agreement of 666,100 shares par value $0.0001 per share at purchase price of $3.45 per share for gross proceeds $2,298,045 and warrants to purchase 666,100 shares of Common Stock for a aggregate gross proceeds $2,298,045 on July 3, 2024. The transaction is expected to close on July 8, 2024. Each of the Purchaser Warrants shall be exercisable beginning six months after issuance and have a term of exercise equal to five years from the date of issuance with an exercise price of $4 per share.

The exercise price for the Purchaser Warrants is subject to adjustment for stock splits, reverse stock splits, stock dividends and similar transactions. The Placement Agent received a cash fee equal to 7% of the gross proceeds of the private placement. The Company will also reimburse the Placement Agent for certain reasonable and documented out-of-pocket legal, due diligence, travel and other transaction fees incurred, in an aggregate amount not to exceed $90,000.

The issuance is pursuant to Section 4(a)(2) of the Securities Act (as defined below) and to Regulation D.