Energous Shares Slide After $3.3M Offering Of Stock & Warrants

Energous Corporation WATT has priced an underwritten offering of shares and warrants for gross proceeds of ~$3.3 million.
The shares of common stock are being sold at a public offering price of $0.40 per share and accompanying warrant.
Energous will issue 8.25 million shares and warrants to purchase an aggregate of 8.25 million shares.
The warrants will have a $0.40 per share exercise price and expire six years after the offering's closing date. The offering is expected to close on March 28, 2023.
The company intends to use the net proceeds for general corporate purposes.
Price Action: WATT shares are trading lower by 7.36% at $0.4998 on the last check Friday.
Photo Via Company