Integrated Media Technology To Raise $2.8M Via Institutional Share Offering At 23% Discount

by Anusuya Lahiri, Benzinga Editor

July 6, 2021 2:39 PM | 1 min read |

Integrated Media Technology Ltd IMTE inked agreements with three accredited investors to raise $2.8 million from the sale of 888,888 shares at $3.15 per share.
The offer price implies a 22.6% discount to Integrated Media Technology’s Friday closing price of $4.07.
The company will utilize the proceeds to purchase equipment for its electronic glass business and working capital.
It raised $4.6 million from a secondary offering at a 29.7% discount in March.
The share prices lost 28.4% in the last three months.
Price action: IMTE shares traded lower by 6.63% at $3.80 on the last check Tuesday.

Posted In:

News Penny Stocks Offerings Tech Media Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.