- Nemaura Medical ( NASDAQ: NMRD ) shares dropped 41% premarket on Friday after the medical technology company priced a ~$8.4M securities offering .
- The offering comprises 4,796,206 shares of common stock, issued in a registered direct offering, and warrants to purchase up to 4,796,206 shares, issued in a concurrent private placement.
- The combined purchase price for one share and one warrant will be $1.75. The warrants will have an exercise price of $2.00/share, will be initially exercisable at the later of shareholder approval or six months following the date of issuance and will expire five and a half years from the closing date.
- Gross proceeds are expected to be ~$8.4M. Net proceeds will be used for working capital and general corporate purposes.
For further details see:
Nemaura Medical stock dips after pricing ~$8.4M securities offering