Aspira Women's Health Inc. (AWH), a bio-analytical company, Thursday announced a definitive agreement with its chief executive Nicole Sandford, and certain existing shareholders for the purchase and sale of $5.5 million worth of common stock.
Following this news, Aspira Women's Health shares are trading down around 3.15% in pre-market activity.
In a direct offering, the company will offer 1,571,000 common shares in a concurrent private placement at a combined purchase price of $3.50 per share to the institutional investor and certain existing investors and a purchase price of $4.255 per share to the officer of the Company.
The warrants to the institutional investor and certain existing investors will have an exercise price of $4.00 per share and Nicole Sandford will have an exercise price of $4.13 per share.
Both warrants will be exercisable beginning six months after issuance and will expire 5 years from the initial exercise date.
The company intends to use the net proceeds from the offering for general corporate purposes.
In pre-market activity, Aspira shares are trading at $4.00, down 3.15% on the Nasdaq.
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