LogicMark Prices $4.5M Public Offering Of 9.67M Units, With Each Unit Consisting Of 1 Share Of Common Stock (Or Pre-funded Warrant In Lieu Thereof), 1 Series A Warrant To Purchase 1 Share Of Common Stock And 1 Series B Warrant To Purchase 1 Share Of Common Stock, Each Unit Is Being Sold At A Public Offering Price Of $0.4654
Portfolio Pulse from Benzinga Newsdesk
LogicMark, Inc. (NASDAQ:LGMK) has announced the pricing of a $4.5 million public offering consisting of 9.67 million units, each priced at $0.4654. Each unit includes one share of common stock (or pre-funded warrant), one Series A warrant, and one Series B warrant. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close on August 5, 2024.
August 02, 2024 | 1:23 pm
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LogicMark, Inc. (NASDAQ:LGMK) has announced a $4.5 million public offering of 9.67 million units at $0.4654 each. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close on August 5, 2024.
The public offering will provide LogicMark with additional capital for working capital and general corporate purposes. However, the issuance of new shares may dilute existing shareholders' equity, potentially leading to neutral short-term price movement.
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