NEPT - Neptune Wellness Solutions slides 38% on $4M offering

2023-05-11 08:37:59 ET

• Consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, Neptune Wellness Solutions ( NASDAQ: NEPT ) stock price slumped 38% on Thursday pre-maret as the company prices public offering o f 12.12M shares.
• Accompanying warrants to purchase up to an aggregate of 12.12M shares at a price of $0.33 per share, resulting in gross proceeds of ~$4M. The warrants have an exercise price of US$0.33 per share and will expire five years following the date of issuance.
• The closing of the offering is expected to occur on or about May 15, 2023.
• The company plans to use the proceeds of the offering, after repayment of debt, for general corporate purposes.

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