SOS Ltd. ADSs Plummet Premarket After Public Offering

Dow Jones03-13

By Colin Kellaher

American depositary shares of SOS Ltd. tumbled 33% in premarket trading Wednesday after the blockchain-based service-solution provider said it was raising $7.85 million in a public offering.

The China-based company said it is selling more than 5.23 million ADSs along with warrants to buy up to another 10.5 million ADSs, at a combined price of $1.50 per ADS and corresponding warrants, well below Tuesday's closing price of $2.13.

SOS said the five-year warrants will be exercisable immediately at $1.50 per ADS.

SOS ADSs were recently down 33% to $1.43 in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

March 13, 2024 09:25 ET (13:25 GMT)

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