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Milestone Scientific slips 10% premarket after pricing equity offering

  • Milestone Scientific (NYSE:MLSS) has priced its public offering of 4.75M common shares and warrants to purchase up to an aggregate of ~2.38M common shares.
  • Each share of common stock is sold together with a warrant to purchase 0.50 of one common stock at a combined price of $0.95, for expected gross proceeds of ~$4.5M.
  • Underwriters over-allotment is an additional 712,500 shares/warrants to purchase up to 356,250 common shares.
  • The three-year warrants will be exercisable at $1.20/common share.
  • Closing date is April 14.
  • Shares are down 10% premarket.

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