eMagin Corp: At 10-yr low on $2 mln direct stock offering

eMagin

04/04/2019 14:36

** eMagin  EMAN.N  shares plunge 27% to 10-yr low after co
raises equity
    ** OLED micro display maker says sold 4 mln shares directly
to an institutional investor at $0.50 for gross raise of $2 mln
 urn:newsml:reuters.com:*:nBw6xQBgla
    ** Co also issued warrants to buy up to 3 mln shares, with a
term of 5.5 years and exercise price of $0.78/sh
    ** H.C. Wainwright exclusive placement agent for offering
    ** EMAN had 45 mln shares outstanding as of Feb 28, per
Refinitiv data
    ** Stock has lost 37% over past week since co reported
wider-than-expected loss and missed Q4 revenue estimates, hurt
by manufacturing-related issues  urn:newsml:reuters.com:*:nL3N21F4LM
    ** Shares extend YTD fall to 46%, following 38% decline in
2018
    

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