The offering was priced at $1.04 per share, with each share coupled with one five-year warrant to purchase one share of common stock, at an exercise price of $1.04 per share.
Net proceeds will be used for a U.S. FDA clinical trial, product launch in Europe and the development of sugarBEAT, as well as for general corporate and working capital purposes.
Closing date is December 20.
Shares are down 42% premarket.
Subscribe for full text news in your inbox