- 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.
Acadia Pharma’s Rett Syndrome Drug Becomes First FDA-Approved Treatment
The FDA has approved Acadia Pharmaceuticals Inc’s (NASDAQ:ACAD) Daybue (trofinetide) for Rett syndrome in adult and pediatric patients two years of…
