Nogin plummets on pricing of $22 mln stock offering

Nogin

04/04/2023 15:48

** Shares of e-commerce firm Nogin Inc  NOGN.O  slumps 63.4%
to $2.37, record low since co's debut in 2022
    ** Co prices its 7.3 mln stock offering at $3 per share, a
53.9% discount to the share's last closing price
    ** Gross proceeds are expected to be about $22 mln
    ** Co intends to use the net proceeds to repurchase
promissory notes from holders of its convertible notes pursuant
to their put options
    ** Shares down ~84% YTD

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