Ability Inc: Slumps after offering is priced

Ability

23/11/2018 13:37

** U.S.-listed shares of the Israel-based interception and
cyber security tools provider  ABIL.O  down ~38.7 pct at $3.40
in premarket trading
    ** Co's public offering of 3.1 mln units priced at
$3.25/unit; 1 unit = 1 ordinary share + 1 warrant to buy one
ordinary share
    ** Co expects to raise about $10 million from the offering
being made to a single institutional purchaser
    ** Offering size represents ~2x company's free float
    ** H.C. Wainwright acting as offering agent
    ** ABIL is the top loser among all stocks trading premarket 
  
    ** Up to Wednesday's close, stock up ~24 pct this year

 (Reporting by Divya R in Bengaluru)
 ((divya.renganathan@thomsonreuters.com))