Tivic Health Systems slumps on pricing of stock offering

Valion Bio

09/02/2023 11:27

** Shares of Tivic Health Systems Inc  TIVC.O  drop ~51% to
$0.25 premarket
    ** Co says its 20 mln shares offering is priced at
$0.25/each, a discount of 50% to its last close
    ** Offer size is more than double its current shares
outstanding of 9.68 mln
    ** Plans to raise ~$5 mln from offering and use proceeds to
boost sales of current products and expand into new products
    ** TIVC shares have tumbled ~76% in the past six months
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))