VEV - Why EV Stock Vicinity Motor (VEV) Is Falling | Benzinga

Vicinity Motor Corp (NASDAQ:VEV) shares are trading lower by 12.8% to $0.56 during Tuesday’s session after the company announced pricing of a $2.5 million registered direct offering.

Vicinity will sell 4,807,692 common shares and warrants to purchase an additional 4,807,692 shares at a combined price of $0.52 per share and warrant. The warrants, priced at $0.64 per share, are exercisable immediately and expire in five years. The total proceeds from this offering are expected to be approximately $2.5 million before expenses.

The funds will be used for working capital and general corporate purposes. The closing is expected around July 17, ...

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