SOS Ltd – ADR SOS shares are trading lower by 30% to $1.49 during Wednesday’s session after the company announced a public offering of approximately $7.85 million worth of its American Depositary Shares (ADS) and warrants.
The offering involves the sale of 5,233,332 ADSs along with warrants to purchase 10,466,664 ADSs. The warrants will have an exercise price of $1.50 and will be exercisable immediately upon issuance, with a five-year expiration period.
The offering is expected to close around March 15, pending customary closing conditions. Proceeds from the offering will be used for developing cloud cryptocurrency mining, cryptocurrency security and insurance business, as well as for working capital and general corporate purposes. Maxim Group LLC is serving as the sole placement agent for this offering.
How To Buy SOS Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in SOS SOS's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, SOS has a 52-week high of $9.50 and a 52-week low of $1.52.
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