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.

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