Kaspien slumps in early trade on launching $13.5M stock offering

Mar. 16, 2021 7:39 AM ETKaspien Holdings Inc. (KSPN)KSPNBy: Khyathi Dalal, SA News Editor
  • Kaspien (NASDAQ:KSPN) drops 24.9% in premarket trade after entering into an underwriting agreement with Aegis Capital wherein the underwriter agreed to purchase, on a firm commitment basis, 416.6K shares at $32.5/share.
  • Net proceeds to be used for general corporate purposes, including working capital to implement its strategic plans focused on brand acquisition, investments in technology to enhance its scalable platform and its core retail business.
  • Offer closing expected on or about Mar.18.

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