ClearSign Technologies tumbles on stock offering

Clearsign Technologies

27/05/2022 13:34

** ClearSign Technologies  CLIR.O  shares down ~20%
premarket as co raises equity
    ** Industrial machinery & equipment co sells 3.64 mln shares
at $1.11 for $4 mln raise  urn:newsml:reuters.com:*:nPn3QsMn6a
    ** Offering prices at 15% discount to stock's last close
    ** Co to use net offering proceeds for working capital, R&D
among other uses  urn:newsml:reuters.com:*:nPn3bhmv5a
    ** Co has ~32.2 mln shares outstanding and ~26 mln shares of
public float, per Refinitiv data
    ** Shares have fallen 72% over the past year through Thurs
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))