Youxin Technology (YAAS) said Friday it has priced an underwritten public offering of about 21.4 million common units at $0.28 per unit for estimated gross proceeds of about $6 million.

Each common unit consists of one ordinary share or one pre-funded warrant, one series A registered common warrant, and one series B registered common warrant, the company said.

Youxin said it has granted Aegis Capital a 45-day option to purchase up to 15% of additional shares and/or investor warrants sold in the offering.

Net proceeds from the offering, which is set to close around Sept. 8, will be used for general corporate purposes and working capital.

The company's shares were down more than 67% in recent premarket activity on Friday.

Price: 0.094, Change: -0.19, Percent Change: -67.15