ECMOHO Raises $9M Via Secondary Equity Offering At 32% Discount

China's health and wellness solutions provider, ECMOHO Ltd (NASDAQ:MOHO), priced 10 million American Depositary Shares (ADSs) at $0.90 per ADS to raise $9 million in a secondary offering. Each ADS represents four shares.
The offer price implies a 31.8% discount to ECMOHO's Monday closing price of $1.32.
The offering proceeds will serve investment in its SaaS platform, working capital, and general corporate purposes.
The underwriter has a 45-day option to purchase additional ADS of up to 12.8% of the offering size.
ECMOHO stock has lost 41.3% year-to-date.
Price action: MOHO shares traded lower by 33.3% at $0.88 in the premarket session on the last check Tuesday.