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Neptune Wellness Down 27% To Fresh 52 Week Low Levels As Details US$5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules; Gained 25% on Nasdaq, Tuesday
MT NEWSWIRES 8:26 AM ET 6/22/2022
Symbol Last Price Change
NEPT 2.9up 0 (0%)
QUOTES AS OF 04:00:01 PM ET 06/21/2022
08:26 AM EDT, 06/22/2022 (MT Newswires) -- Neptune Wellness Solutions Inc.(NEPT) , a diversified and fully integrated health and wellness company, was at last look down 27% at fresh 52 week low levels in US pre-market on Wednesday -- having gained 25% on the Nasdaq yesterday -- as it entered into definitive agreements with several institutional investors for the purchase and sale of an aggregate of 1,945,526 common shares (or common share equivalents) of the company, and accompanying two series of warrants to purchase up to an aggregate of 3,891,052 common shares per series of warrants, at an offering price of $2.57 per share and accompanying warrants in a registered direct offering priced at-the-market under Nasdaq rules.
According to a statement, each series of warrants have an exercise price of $2.32 per share and are immediately exercisable upon issuance. One series of warrants will expire two years following the date of issuance and one series of warrants will expire five years following the date of issuance. The offering is expected to close on or about June 23, 2022 , subject to the satisfaction of customary closing conditions, including the approval of the Toronto Stock Exchange and notification to the Nasdaq Capital Market.
It said the gross proceeds from the offering are expected to be $5 million, prior to deducting placement agent's fees and other offering expenses payable by Neptune and assuming none of the warrants issued in the offering are exercised for cash. Neptune intends to use the net proceeds from the offering for working capital and other general corporate purposes.
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
©http://www.mtnewswires.com Copyright © 2022 MT Newswires. All rights reserved.
All Content and Data provided by Third-Parties — Terms of Use
Neptune Wellness Down 27% To Fresh 52 Week Low Levels As Details US$5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules; Gained 25% on Nasdaq, Tuesday
MT NEWSWIRES 8:26 AM ET 6/22/2022
Symbol Last Price Change
NEPT 2.9up 0 (0%)
QUOTES AS OF 04:00:01 PM ET 06/21/2022
08:26 AM EDT, 06/22/2022 (MT Newswires) -- Neptune Wellness Solutions Inc.(NEPT) , a diversified and fully integrated health and wellness company, was at last look down 27% at fresh 52 week low levels in US pre-market on Wednesday -- having gained 25% on the Nasdaq yesterday -- as it entered into definitive agreements with several institutional investors for the purchase and sale of an aggregate of 1,945,526 common shares (or common share equivalents) of the company, and accompanying two series of warrants to purchase up to an aggregate of 3,891,052 common shares per series of warrants, at an offering price of $2.57 per share and accompanying warrants in a registered direct offering priced at-the-market under Nasdaq rules.
According to a statement, each series of warrants have an exercise price of $2.32 per share and are immediately exercisable upon issuance. One series of warrants will expire two years following the date of issuance and one series of warrants will expire five years following the date of issuance. The offering is expected to close on or about June 23, 2022 , subject to the satisfaction of customary closing conditions, including the approval of the Toronto Stock Exchange and notification to the Nasdaq Capital Market.
It said the gross proceeds from the offering are expected to be $5 million, prior to deducting placement agent's fees and other offering expenses payable by Neptune and assuming none of the warrants issued in the offering are exercised for cash. Neptune intends to use the net proceeds from the offering for working capital and other general corporate purposes.
MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
©http://www.mtnewswires.com Copyright © 2022 MT Newswires. All rights reserved.
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