Ostin Technology Group (OST) priced a registered offering to sell 9.09 million Class A ordinary shares and related warrants to several investors to raise $5 million.
Each share is being sold together with two associated warrants, each to purchase one share, at a combined offering price of $0.55 apiece, the company said Tuesday in a statement.
Each warrant has an exercise price of $0.80 and a two-year expiration period.
Ostin Technology stock fell 8.8% in after-hours trading.
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