USAU - Why U.S. Gold Shares Are Trading Lower | Benzinga
U.S. Gold Corp (NASDAQ:USAU) shares are trading lower by 10.7% to $3.96 Monday afternoon after the company announced a $4.9 million registered direct offering.
The securities purchase agreement is bring conducted with investors for the sale of 1.4 million shares of common stock at $3.50 per share, totaling approximately $4.9 million. Additionally, the agreement includes unregistered warrants to purchase 1,400,000 shares at an exercise price of $4.48 per share.
These warrants will be exercisable six months after issuance and expire five years from the initial exercise date. The closing of the sale is anticipated around April 19, pending customary closing conditions.