Pulmatrix Inc: Slumps on discounted offering

Pulmatrix

11/02/2021 16:58

** Drug developer's shares  PULM.O  drop ~21% at $2.09 
    ** Co to sell 20 mln shares in a direct offering at $2.00
per share, representing a 24.5% discount to stock's last close 
    ** Gross proceeds from this offering are expected to be $40
mln
    ** The closing of the offering is expected to occur around
Feb. 16
    ** H.C. Wainwright & Co. is acting as the sole placement
agent for the offering
    ** Up to last close, stock has nearly doubled this year 

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