Harbor Custom Development Inc: Down on discounted stock offer pricing

Harbor Custom Development

13/01/2021 10:59

** Real estate company's shares  HCDI.O  drop 12.25% to
$3.08 premarket
    ** Co's public offering of 8 mln shares of its common stock
priced at $3.00 per share, representing a 14.52% discount to
stock's last close  urn:newsml:reuters.com:*:nGNE6qzyW  
    ** Co expects gross proceeds of $24 million  
    ** HCDI grants the underwriters a 45-day option to purchase
up to 1.2 mln additional shares 
    ** Offer is expected to close on Jan. 15
  

 (Reporting by Rithika Krishna)
 ((Rithika.Krishna@thomsonreuters.com;))