- Meta Materials Inc (NASDAQ:MMAT) has priced an underwritten public offering of ~83.33 million shares and warrants to buy up to 83.33 million shares at a combined public offering price of $0.30 per share and accompanying warrant.
- The gross proceeds are expected to be ~$25 million.
- The company has granted underwriters a 30-day overallotment option to purchase up to an additional ~12.5 million shares of its common stock and/or warrants to purchase up to 12.5 million shares.
- Each warrant is exercisable immediately at an exercise price of $0.375 per share and will expire five years following the date of issuance.
- The offering is expected to close on or about April 18, 2023
- META intends to use the net proceeds from the offering for working capital and general corporate purposes.
- Price Action: MMAT shares are trading lower by 42.45% at $0.2199 on the last check Friday.
Innoviz Registers 58% Revenue Decline In Q3; Expects Sales To Normalize In Q4
Innoviz Technologies Ltd (NASDAQ: INVZ) reported a third-quarter FY22 revenue decline of 57.7% year-on-year to $0.88 million, missing the consensus of…
