Performance Shipping plummets on pricing $15M in stock offering
- Performance Shipping (NASDAQ:PSHG) entered into a securities purchase agreement with several institutional investors to purchase ~33.3M of its shares and warrants at a purchase price of $0.45 per share and accompanying warrant in a registered direct offering.
- The warrants will be immediately exercisable, will expire five years from issuance date and will have an initial exercise price of $0.45/share.
- Gross proceeds estimated to be ~$15M.
- The Offering is expected to close on or about Aug. 16, 2022.
- Now Read: Performance Shipping GAAP EPS of $0.10, revenue of $16.71M