Toughbuilt Industries Inc (NASDAQ:TBLT) shares are trading lower by 29% at $0.75 after the company announced a $40 million at-the-market offering.

ToughBuilt Industries designs and distributes home improvement and construction product lines under the brand name TOUGHBUILT. Among ToughBuilt's product line are tool pouches, tool rigs, tool belts and accessories, tools bags, totes, a variety of storage solutions and office organizers/bags for laptops, tablets and cellphones. Geographically, the company generates a majority of its revenue from the United States.

ToughBuilt has a 52-week high of $1.78 and a 52-week low of $0.59.