Contraceptive maker Agile hits record low on upsized share offering

Agile Therapeutics

01/07/2022 17:01

** Shares of Agile Therapeutics  AGRX.O  slump as much as
48% to a record low of 61 cents in morning trade
    ** The maker of contraceptives for women announces public
offering of nearly 27 million shares, which is expected to fetch
about $24 million in gross proceeds  urn:newsml:reuters.com:*:nGNXb8424t
    ** Offering is upsized from Wednesday's announcement of 15.7
million shares, together with warrants  urn:newsml:reuters.com:*:nFWN2YG194
    ** Stock has plunged nearly 75% since Wednesday
    ** Co currently has about 4.5 million outstanding shares and
has a market capitalization of about $5.3 million - Refinitiv
data
    ** Including session's loss, stock down 97% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))