AERC - AeroClean stock soars 20% on $15M private placement up 532% since FDA okay

AeroClean (NASDAQ:AERC) stock shot up nearly 20% Monday morning after the company announced an agreement for a $15M private placement with an institutional investor. Shares of air purification technology developer opened at $11.71, recently changing hands at $14.98, up 19%, at around 11:10 a.m. ET. AeroClean said early Monday it has agreed to sell 1.5M shares coupled with warrants to buy 1.5M additional shares for an aggregate amount of $15M. The price of one share plus one warrant to buy one share is $10. The warrants have an exercise price of $11 per share. The company’s stock has been on a roll since it received FDA clearance for its Purgo air purification technology on June 6. The stock has soared 532% since its close on June 3, the last session before the FDA news was announced. AeroClean (AERC) held an initial public offering on Nov. 24, raising $25M. The shares rocketed

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AeroClean stock soars 20% on $15M private placement, up 532% since FDA okay