Fathom Holdings Prices $3.45M Underwritten Public Offering Of 3M Shares Of Common Stock, Inclusive Of 1M Secondary Shares, At A Price Of $2/Share
Portfolio Pulse from Benzinga Newsdesk
Fathom Holdings Inc. (NASDAQ: FTHM) has priced an underwritten public offering of 3 million shares at $2 per share, aiming to raise $3.45 million. The offering includes 1 million secondary shares and grants the underwriter a 45-day option to purchase up to an additional 15% of the shares. Net proceeds will be used for general corporate purposes and to accelerate agent growth. The offering is set to close on December 5, 2023. Company insiders have agreed to a 90-day lock-up period, with the selling shareholder agreeing to 180 days. Roth Capital Partners is the sole manager for the offering.
December 01, 2023 | 1:39 pm
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Fathom Holdings Inc. is raising capital through a public offering of 3 million shares at a discounted price of $2, with the intention to use the funds for corporate purposes and agent growth.
The offering is priced at $2 per share, which may indicate a discount to the current market price, potentially leading to short-term downward pressure on the stock. The capital raise is significant relative to the company's market cap, and the use of proceeds for growth is positive in the long term, but the dilutive effect in the short term is likely to be the dominant factor.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100