Sanara Medtech: Slumps on pricing $27.5 mln share offering
12/02/2021 16:08
** Pharmaceutical co's shares SMTI.O down ~31% at $28.37
** Co prices underwritten public offering of 1.1 mln shares
of common stock at $25.00 per share, representing a 39.02%
discount to stock's last close urn:newsml:reuters.com:*:nACSNwP7Xa
** Total gross proceeds from offering will be $27.5 mln
** Also grants underwriters a 30-day option to purchase up
to an additional 165,000 shares of common stock
** Offering is expected to close on Feb. 17
** Cantor Fitzgerald & Co. is acting as the sole
book-running manager for the offering
(Reporting by Rithika Krishna in Bengaluru)
((Rithika.Krishna@thomsonreuters.com;))