2023-05-18 08:22:26 ET
- Medical technology company, Motus GI ( NASDAQ: MOTS ) announces agreements for the issuance and sale of an aggregate of 4.14M shares and warrants to purchase up to an aggregate of 4.14M at a purchase price of $0.845 per share.
- The private placement is expected to close on or about May 19, 2023.
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The warrants will have an exercise price of $0.72 per share.
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Gross proceeds are expected to be ~$3.5M.
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The company intends to use the net proceeds from the private placement for working capital and general corporate purposes.
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The stock price is down 19% during pre-market
For further details see:
Motus GI drops 19% on $3.5M private placement