Darren415
- Online and offline retailer of healthcare products, China Jo-Jo Drugstores (NASDAQ:CJJD), said on Tuesday that it will issue 9.96M shares at $0.26 per share in an ~$2.59M registered direct offering.
- The company has entered into definitive agreements with a number of investors for the issuance.
- Jo-Jo Drugstores will also issue to the investors registered warrants to purchase up to 19.92M shares. The warrants will have a term of three years.
- The registered direct offering is expected to close on or about Sep. 28.
- The net proceeds are intended to be used for general corporate purposes and working capital.
- CJJD shares were trading -3.00% pre-market.
- Source: Press Release