IONM - Assure slumps ~35% amid pricing $6M public offering
2023-05-12 10:18:16 ET
- Assure Holdings ( NASDAQ: IONM ) stock fell ~38% on Friday after pricing public offering to raise ~$6M in gross proceeds.
- The company is offering 5M common shares (or pre-funded warrants in lieu thereof) at $1.20 per share (or $1.199 per pre-funded warrant).
- The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.001 or on a cashless basis and may be exercised at any time until all the pre-funded warrants are exercised in full, according to the company.
- Assure granted the underwriters a 45-day option to buy up to 750K shares and/or pre-funded warrants, in any combination thereof, at the offering price.
- The company plans to use the net proceeds for general corporate purposes, including working capital, marketing, product development and capital expenditures.
- The offering is expected to close around May 16.
For further details see:
Assure slumps ~35% amid pricing $6M public offering