DXR - Daxor shares tumble after pricing stock offering at discount

2023-05-22 09:23:48 ET

• Daxor ( NASDAQ: DXR ) on Monday priced its previously announced underwritten public offering of common shares to raise about $4 million.
• The company will offer 410,260 shares of its common stock at $9.75 apiece.
• The stock's closing price on Friday, May 19, was $12.24.
• Maxim Group LLC is acting as the sole book-running manager, and Joseph Gunnar & Co., LLC is acting as co-manager for the offering.
• The net proceeds from the offering will be used for working capital and other general corporate purposes.
• The underwriters have a 45-day option to purchase up to an additional 61,539 shares of common stock.
• Shares -22.7% at $9.66 premarket.
• Press Release .

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