Aeluma Announces Public Share Offering; Stock Falls After Hours
MT Newswires Live
Sep 18
Aeluma (ALMU) plans to sell shares in an underwritten public offering under a shelf registration statement, subject to market conditions.
The underwriter will get a 30-day option to buy up to an additional 15% of the shares in the offering, the company said Wednesday in a statement.
Net proceeds will be used to expand business development, advance manufacturing processes, and support working capital and general corporate purposes, Aeluma said.
The company's shares fell 9.9% in after-hours trading.
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