logo
  

Aterian Prices Offering Of $20.2 Mln Of Shares With Warrants At $1.90/shr; Stock Down In Pre-Market

Aterian, Inc. (ATER), a consumer product platform, on Friday announced the pricing of a registered direct offering of 10.52 million shares and accompanying warrants of $20.2 million at a combined price of $1.90.

The pre-funded warrants will have an exercise price of $0.0001 per share. The accompanying warrants are exercisable six months from closing for a period of 5 years at an exercise price of $2 per share.

Aterian intends to utilize the net proceeds of $20.2 million for working capital and other general corporate purposes. The offering is expected to close on or about October 4.

In addition, the company's CEO Yaniv Sarig, CFO Arturo Rodriguez, and others are purchasing a total of 0.116 million shares and accompanying warrants. Each share and accompanying warrant purchased by insiders will be sold at a combined offering price of $2.10.

The offering is being led by existing shareholder Armistice Capital Master Fund Ltd.

Craig-Hallum Capital Group LLC is serving as a special placement agent for the registered direct offering.

ATER is trading down by 11.67 percent at $1.74 per share in pre-market on the Nasdaq.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Weis Markets, Inc., a Mid Atlantic food retailer, has recalled 108 containers of Weis Quality Sea Salt Caramel Ripple Ice Cream citing possible presence of undeclared soy and coconut allergens, the U.S. Food and Drug Administration said. The recalled product comes in 48oz containers that says Weis Quality Sea Salt Caramel Ripple Ice Cream, while the lid says Weis Quality Caramel Caribou Ice Cream Amazon.com Inc. plans to spend more than $1 billion annually to produce movies that will get a theatrical release, Bloomberg reported, citing people familiar with the matter. The online retailer giant, which acquired movie maker MGM Studios earlier this year for $8.45 billion, is likely to produce between 12 and 15 movies each year for movie theaters. New York-based Bentex Group has recalled various children's clothing sets due to violation of the federal lead paint and lead content ban, as well as lead poisoning risk, the U.S. Consumer Product Safety Commission said. The recall involves about 87,000 units of Bentex children's clothing sets in nine different Disney themed styles.
RELATED NEWS
Follow RTT