What's Going On With Cosmos Holdings Stock Falling Sharply?

Cosmos Holdings Inc COSM shares are trading lower by 48.67% to $0.07 after the company announced pricing of a $7.5 million upsized public offering at $0.12 per share.

What Else?

Cosmos Holdings says the closing of the offering is expected to occur on or about October 20, subject to the satisfaction of customary closing conditions.

Cosmos Holdings intends to use the net proceeds from the offering for its pending or potential acquisitions, payment of certain liabilities to existing warrant holders, as well as for working capital purposes and general corporate purposes.

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According to data from Benzinga Pro, Cosmos Holdings has a 52-week high of $4.59 and a 52-week low of $0.07.