Why Motus GI Holdings (MOTS) Shares Are Down 46%

Motus GI Holdings Inc MOTS shares are trading lower by 46% to $1.16 Tuesday morning after the company announced pricing of a public offering of around 3.3 million shares of common stock, along with warrants, aiming to raise about $5.0 million before expenses.

The offering includes Series A and Series B warrants with exercise prices of $1.50 per share. Series A warrants expire in five years, while Series B warrants expire in eighteen months.

The company plans to close this offering around December 21, and intends to use the funds for general corporate purposes and working capital.

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According to data from Benzinga Pro, MOTS has a 52-week high of $23.39 and a 52-week low of $1.16.