Harbor Custom Development, Inc. Announces Pricing of $10 Million Public Offering

TACOMA, Wash., May 16, 2023 (GLOBE NEWSWIRE) — Harbor Custom Development, Inc. (Nasdaq:HCDI, HCDIP, HCDIW, HCDIZ) (“Harbor,” “Harbor Custom Homes®,” or the “Company”), a real estate company involved in all aspects of the land development cycle, today announced the pricing of a public offering of an aggregate of 1,951,218 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase 1,951,218 shares of common stock, at a combined public offering price of $5.125 per share (or pre-funded warrant in lieu thereof) and accompanying warrant. The warrants will have an exercise price of $5.00 per share, will be exercisable immediately upon issuance, and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about May 18, 2023, subject to the satisfaction of customary closing conditions.

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