- Twin Vee PowerCats ( NASDAQ: VEEE ) stocks slumps 30.7% premarket on Thursday after the firm priced its underwritten public offering of 2.5M shares of its common stock at a public offering price of $2.75/share for gross proceeds of $6.86M.
- All of the shares of common stock are being offered by the company.
- Underwriters are granted a 45-day option to purchase up to an additional 375K shares of common stock at the public offering price.
- Offering is expected to close on October 3, 2022.
- Net proceeds from the offering will be used primarily for product development and general corporate purposes.
- Previously, Twin Vee PowerCats announces proposed stock offering .
For further details see:
Twin Vee PowerCats stock slides on pricing $6.86M of stock offering