Aterian Raises $20M Via Equity Offering

Aterian Inc ATER has priced a direct offering of 10.5 million shares and accompanying warrants at $1.90.
The accompanying warrants are exercisable six months from closing for a period of 5 years at an exercise price of $2.00 per share.
The offering is being led by existing shareholder Armistice Capital Master Fund Ltd.
In addition, the company’s CEO Yaniv Sarig, CFO Arturo Rodriguez, Chief Legal Officer Joe Risico, and CTO Roi Zahut are purchasing an aggregate of 0.1 million shares and accompanying warrants at a combined offering price of $2.10.
The company expects the offering gross proceeds to be approximately $20.2 million, which it intends to use for working capital purposes, the conduct of its business, and other general corporate purposes.
Price Action: ATER shares are trading lower by 31.22% at $1.35 on the last check Friday.