Ryvyl (RVYL) priced its public offering of about 15.4 million common shares and related warrants at a combined price of $0.39 apiece, targeting $6 million in gross proceeds.

The warrants are immediately exercisable at $0.39 a share and will expire five years from the date of issuance, the company said Tuesday in a statement.

The offering is expected to close around Wednesday.

Ryvyl shares fell 46% in recent Tuesday trading.

Price: 0.35, Change: -0.30, Percent Change: -46.28