NLS - Nautilus launches $5M registered direct offering
2023-06-15 09:21:54 ET
Nautilus ( NYSE: NLS ) said Thursday it plans to raise $5 million through a registered direct offering.
The company plans to offer and sell 4,098,362 shares of common stock or common stock equivalents at $1.22 apiece.
Additionally, the company will issue warrants to purchase up to 4,098,362 shares of common stock in a concurrent private placement.
The warrants will have an exercise price of $1.35 per share.
The warrants will be exercisable six months following the date of issuance and will have a term of five and one-half years following the date of issuance.
The company said intends to use the net proceeds from this offering for general corporate purposes.
Roth Capital Partners is acting as the exclusive placement agent for the offering.
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Nautilus launches $5M registered direct offering