ImmunoPrecise Antibodies Ltd IPA shares are trading lower by 23% to $1.19 Wednesday afternoon after the company announced pricing of a $1.1 million public offering of common shares at $1.00 per share.
There's an option for underwriters to buy an additional 165,000 shares within 30 days. The offering is set to close on December 8, provided it meets standard conditions.
ImmunoPrecise plans to utilize the funds for research and development, expanding lab facilities and general corporate purposes.
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According to data from Benzinga Pro, IPA has a 52-week high of $5.90 and a 52-week low of $0.94.
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