FocalTherics Prices $40 Million Public Offering of American Depositary Shares
MT Newswires Live
Aug 12
FocalTherics (FOCL) said Tuesday it priced an underwritten public offering of over 8.4 million American depositary shares at $4.75 per share to raise $40 million in gross proceeds.
Underwriters hold a 30-day option to purchase up to an additional 1.3 million depositary shares at the public offering price, the company said.
Each depositary share represents one ordinary share with a nominal value of 0.13 euros ($0.15), and the transaction is scheduled to close on Friday, subject to customary conditions, FocalTherics said.
Shares of the company were down more than 18.9% in Wednesday premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.