Alpha Modus (AMOD) said Wednesday it has struck a deal to sell about 6.3 million shares at $1.15 a share in a direct offering to raise around $7.3 million.
The company said it plans to use the net proceeds for debt repayment and for general corporate purposes. It expects to close the offering Oct. 22, with H.C. Wainwright as placement agent.
Shares were down about 28% in afternoon trading.
Price: 0.93, Change: -0.36, Percent Change: -28.14
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