A maker of smartphone-based measuring technologies, My Size, Inc. (NASDAQ: MYSZ), shares dropped -22.49% to 1.310 in the premarket session as it revealed that the Company’s Gross Proceeds priced an underwritten public offering is prevised to be approximately $1.75 million before the exclusion of premiums, fees and other projected offering costs due to the Company.
The proposed bid is equal to 1,364,503 common stock shares of the Company at $1.28 per share. The Organization intends to be using the net profit for operating capital and general business expenses from this bid.
The corporation has also given the underwriters a 45-day option to purchase up to 15 percent more common stock shares sold in the public sector to offset surplus allowances, where appropriate, at the public offering price. The bid would strictly meet customary closing terms on or around January 8, 2020.
In yesterday’s trading session Company, stock price ranged from 1.550 to 1.820 before closing up 10.46% to $1.69. The number of shares that changed hand during the day was 1,178,168.
Aegis Capital Corp. is the only bookstore for the deal.