NDRA - ENDRA Life Sciences prices stock and warrants offering

2023-04-28 10:28:43 ET

• ENDRA Life Sciences ( NASDAQ: NDRA ) has priced a public offering of 3.75 million shares and warrants to purchase 1.875 million shares, the company said on Friday.
• Net proceeds from the offering is expected to be $3.9 million after deducting discounts and underwriting commissions.
• The warrants are being sold at the rate of one warrant for every two shares of common stock and will be exercisable at a price per share of $1.40.
• The public offering price for each set of two shares of common stock and accompanying warrant to purchase one share of common stock is $2.41 per set of securities, yielding an effective price of $1.20 per share and $0.01 per warrant.
• All of the securities in the public offering were sold by ENDRA.
• The company has granted the underwriter a 30-day option to purchase additional shares and warrants to purchase shares sold in the offering solely to cover over-allotments.
• The warrants will not be listed on any securities exchange or other nationally recognized trading system.
• The offering is expected to close on May 2, 2023.
• ENDRA intends to use the net proceeds from the offering for working capital and other general corporate purposes.
• Newbridge Securities Corporation is acting as sole underwriter of the offering.
• Press Release .

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