Peraso Inc PRSO shares are trading lower by 47.5% to $1.60 Tuesday morning after the company has announced the pricing of its public offering. The offering consists of 480,000 shares of common stock, pre-funded warrants for 1,424,760 shares, Series A warrants for 3,809,520 shares and Series B warrants for 3,809,520 shares.
Ladenburg Thalmann & Co. Inc. is the sole book-running manager for the offering. Each share of common stock and pre-funded warrant is sold with one Series A warrant and one Series B warrant.
The Series A warrants are exercisable at $2.25 per share immediately and expire in five years, while the Series B warrants are exercisable at the same price immediately but expire in six months.
The pre-funded warrants are exercisable at $0.001 per share. The offering is expected to close around February 8, with the underwriter having a 45-day option to purchase additional shares and warrants.
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According to data from Benzinga Pro, PRSO has a 52-week high of $52.80 and a 52-week low of $1.51.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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