EShallGo (EHGO) said Wednesday it has struck a deal to sell 454,968 Class A shares at $3.25 apiece to some institutional investors in a direct offering.
Investors can also buy pre-funded warrants in lieu, it said.
The offering is expected to close June 25, with Univest Securities as placement agent, the company said.
Shares were down over 9% in afternoon trading.
Price: 3.62, Change: -0.38, Percent Change: -9.50
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