METX - Meten to raise $7.5M in stock and warrants offering

• Meten ( NASDAQ: METX ) entered into a definitive agreement with two institutional investors for the purchase and sale of 1.26M shares and pre-funded warrants to purchase up to 7.98M shares at purchase price of $0.70/share in a registered direct offering.
• In a concurrent private placement, the company also agreed to issue to the same investors units to purchase pre-funded warrants to purchase up to 1.47M shares and warrants to purchase 21.4M shares at an exercise price of $0.70/share.
• The warrants will have a 5-year term from issuance date.
• Gross proceeds of both transactions are expected to be ~$7.5M.
• Transactions are expected to close on or about Aug.8, 2022.
• Shares trading 22.1% down premarket.

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