2023-07-17 09:49:24 ET
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BYND Cannasoft Enterprises ( NASDAQ: BCAN ) announced on Monday the pricing of an underwritten public offering of 1.73 million shares of its common stock at $1.50 per share.
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The stock fell about 52% to $1.45.
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Gross proceeds from the offering are expected to be approximately $2.6 million.
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Underwriters are granted a 45-day option to purchase additional common shares of up to 15% at the public offering price.
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The offering is expected to close on or about July 19, 2023, subject to customary closing conditions.
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BYND Cannasoft Enterprises ( BCAN ) intends to use the proceeds from this offering for working capital.
For further details see:
BYND Cannasoft Enterprises shares drop 52% on pricing $2.6 million stock offering