VS - Versus Systems plummets on pricing of its public offering

Versus Systems (NASDAQ:VS) has priced its public offering of ~4.38 units for gross proceeds of $7M. Each unit consists of one common share and one warrant to purchase one common share, at a public offering price of $1.60/unit and a warrant exercise price of $1.92. Additionally, underwriters are granted a 30-day option to purchase up to an additional ~0.66M common shares and/or ~0.66M additional warrants at the public offering price. The Co. intends to use the net proceeds from the offering for working capital and general corporate purposes. The offering is expected to close on Feb. 28, 2022. VS shares  -37.2% premarket to $1.30.

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Versus Systems plummets on pricing of its public offering