Recon Technology: Drops on pricing stock offering at discount
26/06/2020 16:07
** Oilfield services provider's shares RCON.O fall ~38% to
$1.11 after pricing of $2.1 mln registered direct offering
** Company agrees to sell 1.68 mln ordinary shares
** Purchase price for one ordinary share and a corresponding
warrant will be $1.25, a discount of 30.5% to stock's Thursday
close urn:newsml:reuters.com:*:nPn9XpQsSa
** Company has 5.52 mln shares outstanding - Refinitiv data
** Stock has more than halved in value so far this year
(Reporting by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com))