CFMS - Conformis to raise $17.25M in direct offering shares -6%

Conformis (CFMS) inks agreement with an institutional investor for the purchase and sale for $17.25M of (i) 8,512,088 shares of its common stock and accompanying warrants to purchase up to 8,512,088 shares of common stock and (ii) pre-funded warrants to purchase up to 9,492,953 shares of common stock and accompanying warrants to purchase up to 9,492,953 shares of common stock.The shares and accompanying warrants are being sold in units (1:1), at an offering price of $0.9581/unit.The warrants will be exercisable immediately, have an exercise price of $0.8748/share, and will expire five years from the date of issuance.Closing date is Sept. 28.Share -6% premarket.

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Conformis to raise $17.25M in direct offering, shares -6%