My Size Shares Are Trading Lower After Raising $3.3M Via Secondary Share Sale At 19% Discount

E-commerce measurement solutions creator My Size Inc MYSZ priced 2.6 million shares at $1.26 per share to raise $3.3 million in gross proceeds in a secondary offering.

• The offer price signifies a 19.2% discount to the March 22 closing price of $1.56.
• The offering proceeds would be utilized for working capital and general corporate purposes.
• The underwriters have a 45-day option to procure additional shares up to 15% of the offering size.
• The company raised $2 million in gross proceeds from another January offering for working capital and general corporate purposes.
• MYSZ stock has gained 36% in the last year.
• Price action: MYSZ shares traded lower by 20.6% at $1.24 on the last check Tuesday.