Assure Holdings plunges on pricing $6.2 mln stock offering at discount

Assure Holdings

22/08/2022 14:21

(Updates)
    ** Shares of healthcare facilities and services company
Assure Holdings Corp  IONM.O  drop 22.8% to $1.08 before the
bell on a discounted stock offering plan
    ** Co offers ~5.6 mln shares at a price of $1.12/shr, a 20%
discount to stock's last closing, for gross proceeds of $6.2 mln
    ** Plans to use the amount raised for general corporate
purposes and working capital expenses  urn:newsml:reuters.com:*:nGNXbX8vLq 
    ** Total shares offered represents nearly ~43% of co's total
outstanding shares of 12.92 mln 
    ** Assure also said proceeds can increase to $7.2 mln if 
over-allotment "greenshoe" option is exercised in full
    ** Offering expected to close on Aug. 24, with Aegis Capital
Corp acting as the sole book-running manager
    ** About 912,600 shares of the company have traded so far,
~60% of their 30-DMA volume of 1.5 mln shares
    ** Up to Friday's close, stock had fallen 74.1% YTD

 (Reporting by Mehr Bedi and Mehnaz Yasmin in Bengaluru)
 ((Mehr.Bedi@thomsonreuters.com;))