Cosmos Health Inc. COSM shares are trading lower by 17.3% to $2.05 Thursday morning after the company priced its $5.25 million registered direct offering and concurrent private placement at a combined price of $2.48.
The registered direct offering to institutional investors, consisting of 2,116,936 shares of common stock and common warrants is for the purchase of up to 1,935,484 additional shares. The unit price is $2.48, with warrants exercisable at $2.75 per share for five years from issuance.
The company expects to use the net proceeds from the offering for working capital and general corporate purposes. The offering is expected to close on or about July 21, subject to the satisfaction of customary closing conditions.
According to data from Benzinga Pro, COSM has a 52-week high of $23.68 and a 52-week low of $1.60.
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