CTGO - Why Contango (CTGO) Shares Are Getting Hammered | Benzinga

Contango ORE Inc (NASDAQ:CTGO) shares are trading lower by 21% to $19.66 during Tuesday’s session after the company announced the pricing of its underwritten public offering of 731,750 units at $20.50 per unit, each comprising one share of common stock and one-half of a warrant, with whole warrants exercisable at $26.00 per share for 36 months.

The units will be sold together but issued separately. The offering aims to raise approximately $15 million in gross proceeds before expenses and is expected to close around June 12.

The net proceeds will be used for general corporate purposes, including working capital and exploration projects, ...

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