Why Vicarious Surgical Shares Are Nosediving

Vicarious Surgical Inc RBOT shares are trading lower by 42.0% to $0.96 Thursday afternoon after the company priced a $45 million offering.

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Vicarious Surgical priced its underwritten public offering of 45 million shares of Class A common stock at $1.00 per share, with a 30-day option for underwriters to purchase an additional 6.75 million shares.

The company expects to receive around $45 million in total gross proceeds. The offering is scheduled to close on or about August 7, 2023.

Morgan Stanley & Co. and Cowen and Company are the joint book-running managers for the offering.

See Also: Why Sunrun Stock Is Exploding Higher

According to data from Benzinga Pro, RBOT has a 52-week high of $4.76 and a 52-week low of $0.90.