Inspira Technologies Oxy (IINN) said Friday it priced a $3.2 million private placement of ordinary shares and warrants to purchase shares.
The company is offering 4.6 million ordinary shares and ordinary warrants to purchase an equal amount of shares at $0.70 per share and accompanying warrant and expects to close the placement on or about Monday.
Warrants in the private placement have an exercise price of $1.10 per share with a term of 18 months, the company said.
Inspira said it plans to use the proceeds for working capital and general corporate purposes.
Shares of the company were down about 12% in recent trading.
Price: 1.00, Change: -0.13, Percent Change: -11.50
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.