U.S. Markets closed

Mohawk Group Holdings, Inc. (MWK)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
30.71+1.86 (+6.45%)
At close: 4:00PM EDT
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close28.85
Open30.75
Bid30.81 x 1100
Ask31.90 x 1200
Day's Range29.62 - 31.21
52 Week Range1.62 - 48.99
Volume386,112
Avg. Volume1,059,995
Market Cap906.406M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-3.68
Earnings DateMar 08, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est44.83
  • Mohawk Group Closes Previously Announced Debt Refinancing
    GlobeNewswire

    Mohawk Group Closes Previously Announced Debt Refinancing

    NEW YORK, April 09, 2021 (GLOBE NEWSWIRE) -- Mohawk Group Holdings, Inc. (Nasdaq: MWK) (“Mohawk” or the “Company”) today announced that it has closed the refinancing of all of its previously outstanding debt, including two senior secured notes and its revolver credit facility. The Company previously announced its intent to refinance its outstanding debt on March 8, 2021. Pursuant to the refinancing, Mohawk issued senior secured promissory notes in an aggregate principal amount of $110.0 million to two affiliated institutional lenders for a cash payment to Mohawk of $57.7 million and the exchange of two senior secured promissory notes with an aggregate principal amount of $52.3 million previously issued to the institutional lenders. $14.8 million of the net proceeds were used to repay all amounts owed under the Company’s Amended and Restated Credit and Security Agreement with MidCap Funding X Trust. The new senior secured promissory notes have an 8% annual interest rate payable in cash on a quarterly basis with a three year maturity. In connection with the refinancing, the Company issued to the institutional lenders warrants to purchase an aggregate of 2,259,166 shares of the Company’s common stock with an exercise price of $31.74 per share. The Company expects to use the remaining net proceeds of $40.8 million, after deducting fees and expenses, for potential acquisitions, working capital and general corporate purposes. Yaniv Sarig, Co-Founder and Chief Executive Officer, commented, “This refinancing is the first step in optimizing our capital structure to execute on our accretive M&A strategy. We remain focused on advancing on our strong pipeline of potential M&A targets, including our previously announced anticipated acquisition of Photo Paper Direct.” A.G.P. / Alliance Global Partners acted as sole placement agent on the debt transaction. About Mohawk Group Holdings, Inc. Mohawk Group Holdings, Inc., together with its subsidiaries (“Mohawk”), is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon and Walmart. Mohawk has twelve owned and operated brands and sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics. Forward Looking Statements All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, our expected use of the remaining net proceeds from the refinancing, our expectations with respect to optimizing our capital structure, expectations regarding continued investment in our M&A strategy in the future, expectations with respect to our accretive M&A strategy, including the potential closing of the acquisition of Photo Paper Direct. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, those related to the impact of the COVID-19 pandemic including its impact on consumer demand, our cash flows, financial condition and revenue growth rate; changes to net income due to non-cash stock based compensation and fluctuation in valuation of earnouts in connection with our acquisition transactions and warrants associated with our financing transactions; whether we successfully close the Photo Paper Direct acquisition or other acquisitions targeted in our M&A pipeline; our supply chain including sourcing, manufacturing, warehousing and fulfillment, including with respect to existing disruptions we are experiencing due to the COVID-19 pandemic; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to grow market share in existing and new product categories, including our ability to successfully complete PPE transactions; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and our ability to integrate any such companies and technologies with our business; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. CONTACT: Investor Contact: Ilya Grozovsky Director of Investor Relations & Corp. Development Mohawk Group ilya@mohawkgp.com 917-905-1699

  • UPDATE: InvestorBrandNetwork Announces The Dealmaker Show Interview with Mohawk Group Co-Founder & CEO Yaniv Sarig
    GlobeNewswire

    UPDATE: InvestorBrandNetwork Announces The Dealmaker Show Interview with Mohawk Group Co-Founder & CEO Yaniv Sarig

    LOS ANGELES, March 30, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities, today announces that Yaniv Sarig, co-founder and CEO of Mohawk Group Holdings Inc. (NASDAQ: MWK), a technology enabled consumer products company, recently appeared on The Dealmaker Show, a fast-paced and high-energy forum hosted by bestselling author Oren Klaff. The broadcast is available for on-demand viewing via Apple Podcasts and Spotify. Klaff kicked off the interview by briefly detailing Mohawk Group’s business model, which leverages the company’s proprietary AIMEE(R) platform to automate the design, development and launch of best-selling consumer products. Sarig provided more insight into what Mohawk’s platform does and how the company is leveraging it to expand its foothold in the ecommerce industry. “A lot of the traditional consumer brands that have created the products that we’ve consumed over the last 40-50 years in traditional brick-and-mortar retail… they were very unequipped to be successful in ecommerce. Their entire approach to the cycles of retail and the speed at which they were moving… they just didn’t meet the needs of consumers of today,” Sarig stated. “We wanted to build a consumer product company that was designed from the ground up to be a leading company in the ecommerce platforms that we shop on today (Amazon, etc.). One of the most fundamental realizations was that technology was going to be a key factor in the success of such a futuristic consumer platform.” “What we’ve done with Mohawk is we’ve built a hybrid of a technology company and a consumer company. Our business is to sell consumer products to the end consumers. We actually have built, on our own, five different brands; we recently acquired our number seven brand, so we manage 12 different consumer brands that we own,” he continued. “Instead of doing everything by hand, instead of having to constantly manage all the forecasting and all the media buying and figuring out the next product we need to make… we went and built a very, very powerful technology platform that allows us to just build consumer product brands and products in a more efficient way. In a nutshell, what that platform does is it gathers a lot of data on what consumers want and tells us what products to make. It automates all the day-to-day management of those products.” “To be a good consumer company in today’s world, you have to understand the customer, predict what they want, bring that product to market fast enough and be able to manage marketing at a very high level at a high scale,” Sarig added. “The reason Mohawk exists (and the reason Amazon is doing what they’re doing with private label business) is because consumers have been empowered by ecommerce to use data over brand… Take Amazon for example, 75% of all product searches on Amazon don’t have a brand in them… Consumers are feeling empowered by this technology… What Mohawk does… is we reverse that data… It tells us what consumers are searching for, what they like and don’t like about the products that are out there, and how we can find opportunities to make something better for those customers.” Throughout the interview, Sarig provided an extensive overview of the benefits of Mohawk’s data-driven approach to ecommerce and the strategies associated with identifying market demand and launching products to address these opportunities. About Mohawk Group Holdings Inc. Mohawk Group Holdings Inc., together with its subsidiaries (“Mohawk”), is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon and Walmart. Mohawk has twelve owned and operated brands and sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics. For more information, visit the company’s website at www.mohawkgp.com About InvestorBrandNetwork The InvestorBrandNetwork (“IBN”) consists of financial brands introduced to the investment public over the course of 15+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients. Through NetworkNewsWire (“NNW”) and its affiliate brands, IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) a total news coverage solution. For more information on IBN, visit https://www.InvestorBrandNetwork.com Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: https://IBN.fm/Disclaimer Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. Corporate Communications InvestorBrandNetwork (IBN)Los Angeles, Californiawww.InvestorBrandNetwork.com310.299.1717 OfficeEditor@InvestorBrandNetwork.com

  • InvestorBrandNetwork Announces The Dealmaker Show Interview with Mohawk Group Co-Founder & CEO Yaniv Sarig
    GlobeNewswire

    InvestorBrandNetwork Announces The Dealmaker Show Interview with Mohawk Group Co-Founder & CEO Yaniv Sarig

    LOS ANGELES, March 30, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities, today announces that Yaniv Sarig, co-founder and CEO of Mohawk Group Holdings Inc. (NASDAQ: MWK), a technology enabled consumer products company, recently appeared on The Dealmaker Show, a fast-paced and high-energy forum hosted by bestselling author Oren Klaff. The broadcast is available for on-demand viewing via Apple Podcasts and Spotify. Klaff kicked off the interview by briefly detailing Mohawk Group’s business model, which leverages the company’s proprietary AIMEE(R) platform to automate the design, development and launch of best-selling consumer products. Sarig provided more insight into what Mohawk’s platform does and how the company is leveraging it to expand its foothold in the ecommerce industry. “A lot of the traditional consumer brands that have created the products that we’ve consumed over the last 40-50 years in traditional brick-and-mortar retail… they were very unequipped to be successful in ecommerce. Their entire approach to the cycles of retail and the speed at which they were moving… they just didn’t meet the needs of consumers of today,” Sarig stated. “We wanted to build a consumer product company that was designed from the ground up to be a leading company in the ecommerce platforms that we shop on today (Amazon, etc.). One of the most fundamental realizations was that technology was going to be a key factor in the success of such a futuristic consumer platform.” “What we’ve done with Mohawk is we’ve built a hybrid of a technology company and a consumer company. Our business is to sell consumer products to the end consumers. We actually have built, on our own, five different brands; we recently acquired our number seven brand, so we manage 12 different consumer brands that we own,” he continued. “Instead of doing everything by hand, instead of having to constantly manage all the forecasting and all the media buying and figuring out the next product we need to make… we went and built a very, very powerful technology platform that allows us to just build consumer product brands and products in a more efficient way. In a nutshell, what that platform does is it gathers a lot of data on what consumers want and tells us what products to make. It automates all the day-to-day management of those products.” “To be a good consumer company in today’s world, you have to understand the customer, predict what they want, bring that product to market fast enough and be able to manage marketing at a very high level at a high scale,” Sarig added. “The reason Mohawk exists (and the reason Amazon is doing what they’re doing with private label business) is because consumers have been empowered by ecommerce to use data over brand… Take Amazon for example, 75% of all product searches on Amazon don’t have a brand in them… Consumers are feeling empowered by this technology… What Mohawk does… is we reverse that data… It tells us what consumers are searching for, what they like and don’t like about the products that are out there, and how we can find opportunities to make something better for those customers.” Throughout the interview, Sarig provided an extensive overview of the benefits of Mohawk’s data-driven approach to ecommerce and the strategies associated with identifying market demand and launching products to address these opportunities. About Mohawk Group Holdings Inc. Mohawk Group Holdings Inc., together with its subsidiaries (“Mohawk”), is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon and Walmart. Mohawk has 12 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics. For more information, visit the company’s website at www.mohawkgp.com. About InvestorBrandNetwork The InvestorBrandNetwork (“IBN”) consists of financial brands introduced to the investment public over the course of 15+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients. Through NetworkNewsWire (“NNW”) and its affiliate brands, IBN provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) full-scale distribution to a growing social media audience; (5) a full array of corporate communications solutions; and (6) a total news coverage solution. For more information on IBN, visit https://www.InvestorBrandNetwork.com. Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: https://IBN.fm/Disclaimer Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. Corporate Communications InvestorBrandNetwork (IBN)Los Angeles, Californiawww.InvestorBrandNetwork.com310.299.1717 OfficeEditor@InvestorBrandNetwork.com