- Lion Electric ( NYSE: LEV ) stock dropped 12.4% after the bell on Monday as the EV maker announced the launch of a marketed public offering of units in the U.S. and Canada.
- Each unit will consist of one share and one share purchase warrant. Each warrant will entitle the holder to acquire one share at an exercise price to be determined later.
- Underwriters will be granted an over-allotment option, exercisable for 30 days from the date of closing of the offering, to buy additional units representing up to 15% of the total number of units to be sold in the offering.
- Power Sustainable Capital indicated interest in buying units at the offering price for ~$25M.
- Lion Electric ( LEV ) in June announced $125M at-the-market stock offering .
For further details see:
Lion Electric stock drops 12% aftermarket on launch of marketed public offering