BCDA - BioCardia shares slump after $2.6M offering
2023-06-22 12:58:23 ET
- BioCardia ( NASDAQ: BCDA ) said on Thursday that on June 21, it entered into an agreement with certain directors and officers of the company.
- Under the agreement, BCDA agreed to sell and issue 1.1M shares of its common stock at an offering price of $2.336/share.
- BCDA shares slump -12.5% .
- "Certain of the Company’s directors and executive officers agreed to purchase an aggregate of 203,337 shares of Common Stock in the Offering," the company said in a SEC filing .
- Offering is expected to close on or about June 23, 2023.
- BCDA expects proceeds of $2.6M from the offering, which it plans to use for working capital and other general corporate purposes.
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BioCardia shares slump after $2.6M offering