Why Tivic Health (TIVC) Stock Is Down Over 40%

Tivic Health Systems Inc TIVC shares are trading lower by 46% to $0.059 Monday morning after the company priced its public offering of 32.5 million shares at $0.055 per share. 

The offering is expected to generate approximately $1.8 million in gross proceeds before deducting fees and expenses. Tivic intends to use the net proceeds for general corporate purposes and working capital.

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Maxim Group LLC will serve as the sole placement agent for the offering. The closing is scheduled for around July 11, subject to customary closing conditions.

According to data from Benzinga Pro, TIVC has a 52-week high of $2.87 and a 52-week low of $0.059.