Motus GI Holdings Enters Into Definitive Agreement For The Exercise Of An Outstanding Series B Common Stock Purchase Warrant Held By An Institutional Investor To Purchase An Aggregate Of 2,933,334 Shares Of Common Stock For ~$2.7M
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Motus GI Holdings, Inc. (MOTS) has entered into a definitive agreement with an institutional investor for the immediate exercise of a Series B common stock purchase warrant, resulting in the sale of 2,933,334 shares for approximately $2.7 million. The exercise price was revised to $0.925 per share. Additionally, Motus agreed to issue two new unregistered warrants for a total of 4,400,001 shares at $0.74 per share. The proceeds will be used for working capital and general corporate purposes, with the transaction expected to close by February 26, 2024.
February 22, 2024 | 1:07 pm
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Motus GI Holdings, Inc. has finalized a deal for the exercise of a Series B warrant, selling 2,933,334 shares at $0.925 each, and will issue new warrants for 4,400,001 shares at $0.74 each. The $2.7 million proceeds are designated for working capital and corporate purposes.
The exercise of the Series B warrant and the issuance of new warrants for Motus GI Holdings represent a significant financial transaction that could positively impact the company's stock price in the short term. The infusion of approximately $2.7 million in gross proceeds provides the company with additional working capital and resources for general corporate purposes, which could be viewed positively by investors. The adjustment in exercise price and the issuance of new warrants at a lower price could also stimulate interest and investment in the company's stock.
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