Aspira Women’s Health tumbles on stock-and-warrants offering

Aspira Women's Health

23/08/2022 13:32

** Shares of Aspira Women’s Health Inc  AWH.O  down ~35%
premarket after co raises equity
    ** Co sells 12 mln shares and warrants to buy an additional
12 mln shares at $0.75 for $9 mln raise  urn:newsml:reuters.com:*:nGNX3d4djy
    ** 5-yr warrants have exercise price of $0.88, in-line with
stock's last close
    ** Co to use net proceeds for general corp purposes,
including portfolio expansion and commercialization, as well as
invest in businesses, strategic partnerships
    ** AWH has 112.3 mln shares outstanding and ~56.9 mln of
free float, per Refinitiv data
    ** William Blair sole bookrunner for offering
    ** On Aug 10, co reported Q2 product rev increased 17% yr/yr
to $2 mln and grew OVA1plus volume by 19% to 5,411 units
 urn:newsml:reuters.com:*:nGNX7kr3pW
    ** YTD, shares down 50% through Mon close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))