Meta Materials falls on pricing stock offering

Meta Materials

14/04/2023 15:47

** Shares of developer of electrical components Meta
Materials Inc  MMAT.O  fall 42.4% to an over 12-year low of 22
cents
    ** Co prices its 83.3 mln share offering at 30 cents per
share
    ** Gross proceeds from the offering are expected to be about
$25 mln
    ** MMAT intends to use the net proceeds for on-going
development of existing and future products, as well as general
and administrative expenses
    ** Shares down ~82% YTD

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))