Minerva Surgical shares soar on $30 mln private placement

Minerva Surgical

28/12/2022 12:54

** Shares of med-tech company Minerva Surgical Inc  UTRS.O 
more than double premarket to 37 cents
    ** Announces $30 mln private placement of common stock led
by Accelmed Partners  urn:newsml:reuters.com:*:nGNXbS70Rp
    ** To sell 146.6 mln shares of common stock at an offering
price of $0.2046/shr
    ** Following the offering, Accelmed will become the
controlling stockholder of UTRS
    ** Net proceeds to help extend cash runway for at least the
next 12 months - UTRS
    ** Private placement expected to close in the first quarter
of 2023 
    ** Up to Tuesday's close, stock had fallen 97% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))