Why Amesite Shares Are Nosediving Today

Amesite Inc AMST shares are trading lower by 46.48% to $0.45 Tuesday morning after the company announced a $2.3 million registered direct offering.

What Else?

The offering is expected to close on or about September 1st, subject to customary closing conditions.

The gross proceeds to Amesite from this offering are expected to be approximately $2.3 million before deducting placement agent fees and other estimated offering expenses.

Amesite says the warrants associated with the offering will be exercisable commencing six months after the date of their issuance, have an exercise price of $0.82 per share and will expire five years from the date of issuance.

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According to data from Benzinga Pro, Baudax Bio has a 52-week high of $26.60 and a 52-week low of $0.32.