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ReShape Lifesciences Inc (NASDAQ:RSLS) shares are trading lower by 62.44% to $6.40 Monday morning after the company priced its $10.2 million offering at $8 per unit consisting of stock and warrants.
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The company intends to use the net proceeds of this offering to continue implementation of its growth strategies, for working capital and general corporate purposes.
ReShape says the company has also granted the underwriters an option to purchase an additional 191,250 shares of common stock and/or additional warrants to purchase up to 286,875 shares of common stock, to cover over-allotments, if any.
The offering is expected to close on February 8, subject to customary closing conditions.
According to data from Benzinga Pro, RSLS has a 52-week high of $77.00 and a 52-week low of $5.40.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.