- China's health and wellness solutions provider, ECMOHO Ltd MOHO, priced 10 million American Depositary Shares (ADSs) at $0.90 per ADS to raise $9 million in a secondary offering. Each ADS represents four shares.
- The offer price implies a 31.8% discount to ECMOHO's Monday closing price of $1.32.
- The offering proceeds will serve investment in its SaaS platform, working capital, and general corporate purposes.
- The underwriter has a 45-day option to purchase additional ADS of up to 12.8% of the offering size.
- ECMOHO stock has lost 41.3% year-to-date.
- Price action: MOHO shares traded lower by 33.3% at $0.88 in the premarket session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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