Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Odyssey Marine Exploration Stock Falls Following $16.5M Direct Offering

Published 08/06/2022, 17:58
Updated 08/06/2022, 18:41
© Reuters.  Odyssey Marine Exploration Stock Falls Following $16.5M Direct Offering
OMEX
-
ODYC
-

  • Odyssey Marine Exploration Inc (NASDAQ: OMEX) has entered into subscription agreements with certain institutional investors to purchase an aggregate of ~$16.5 million of its common stock and warrants in a registered direct offering.
  • OMEX has agreed to sell ~4.9 million units. Each unit will consist of one common share and one warrant to purchase one share of common stock.
  • The warrants will be exercisable at any time beginning six months after the date of issuance and will have an exercise price of $3.35 per share. The purchase price for each unit will be $3.35.
  • The company intends to use the offering net proceeds for debt reduction and general corporate purposes.
  • The offering is expected to close on June 10, 2022.
  • Price Action: OMEX shares are trading lower by 14.13% at $2.76 on the last check Wednesday.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.