RedCloud (RCT) filed a prospectus Thursday for the sale of 21.7 million common shares by certain selling shareholders.
The offering comprises 9 million common shares issued by RedCloud and 12.7 million shares issuable upon the exercise of warrants at $1.50 per share, according to the filing.
RedCloud said it will not receive proceeds from the resale of shares sold by the investors but may receive proceeds from the exercise of the warrants.
Shares of RedCloud were down 2.4% in recent Friday trading.
Price: 2.04, Change: -0.05, Percent Change: -2.39
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