Ryde Group (RYDE) said Thursday it priced a public offering of 5.3 million units at $0.85 per unit for gross proceeds of about $4.5 million.
Each unit consists of one class A ordinary share and one warrant. The warrants are immediately exercisable at $0.85 and will expire in five years.
The offering is expected to close Friday.
Shares of Ryde Group tumbled 28% in early trading Thursday.
Price: 0.83, Change: -0.32, Percent Change: -28.09
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