- Data Storage Corp DTST agreed to sell 1.375 million shares at $6.04 per share to raise $8.3 million in a secondary institutional offering.
- The $6.04 is the combined purchase price for one share of common stock and 0.75 warrants, which signifies a 1.7% premium to the company's Friday closing price of $5.94.
- The offering also includes five-year warrants to purchase 1 million shares.
- The warrant exercise price is $6.15 per share.
- Maxim Group LLC is the sole placement agent for the offering.
- The company did not disclose the purpose behind the offering.
- Price action: DTST shares traded lower by 25.3% at $4.44 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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