Energous Shares Slide After $3.3M Offering Of Stock & Warrants

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  • Energous Corporation WATT has priced an underwritten offering of shares and warrants for gross proceeds of ~$3.3 million.
  • The shares of common stock are being sold at a public offering price of $0.40 per share and accompanying warrant.
  • Energous will issue 8.25 million shares and warrants to purchase an aggregate of 8.25 million shares.
  • The warrants will have a $0.40 per share exercise price and expire six years after the offering's closing date. The offering is expected to close on March 28, 2023.
  • The company intends to use the net proceeds for general corporate purposes.
  • Price Action: WATT shares are trading lower by 7.36% at $0.4998 on the last check Friday.
  • Photo Via Company
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