Why LogicMark Stock Is Falling 40% Today

LogicMark Inc LGMK shares are trading lower by 39.76% to $0.22 Tuesday morning after the company priced a 10.585 million unit underwritten public offering at $0.371 per unit.

What Else?

LogicMark says gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $5.2 million.

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The offering is expected to close on January 25, subject to customary closing conditions.

According to data from Benzinga Pro, LGMK has a 52-week high of $3.19 and a 52-week low of $0.22.