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PSHG - Performance Shipping plummets on pricing $15M in stock offering
Performance Shipping Inc.
Performance Shipping ( NASDAQ: PSHG ) entered into a securities purchase agreement with several institutional investors to purchase ~33.3M of its shares and warrants at a purchase price of $0.45 per share and accompanying warrant in a registered direct offering.
The warrants will be immediately exercisable, will expire five years from issuance date and will have an initial exercise price of $0.45/share.
Gross proceeds estimated to be ~$15M.
The Offering is expected to close on or about Aug16, 2022.