PTE - PolarityTE to raise up to $10M with at-the-market offering

PolarityTE (PTE) entered into definitive agreements with a single healthcare-dedicated institutional investor for the purchase and sale of 9,090,910 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying warrants to purchase up to 9,090,910 shares of common stock at a combined price of $1.10/share.The five years warrants will be immediately exercisable at $1.20/share.The company intends to use the net proceeds for working capital and general corporate purposes.Closing date is January 14.Previously in Dec.22, PolarityTE under pressure on pricing $8M registered direct offering.Shares down 2.4% premarket.

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PolarityTE to raise up to $10M with at-the-market offering