- Performance Shipping Inc. PSHG priced its public offering of 7.62 million units at $1.05 per unit.
- Each unit consists of one common share and one Class A warrant to purchase one common share and will immediately separate upon issuance.
- Each Class A warrant is exercisable for one common share at an exercise price of $1.05 per share and will expire five years from issuance.
- The gross proceeds are expected to be ~$8 million. The offering is expected to close on June 1, 2022.
- The company has the underwriter a 45-day option to purchase up to an additional 1.14 million common shares and/or pre-funded warrants and/or 1.14 million Class A warrants.
- Price Action: PSHG shares are trading lower by 64.8% at $0.64 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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