Motus GI (NASDAQ:MOTS) stock is slipping on Friday after the medical technology company announced a private placement.
This has Motus GI offering 4,142,012 shares of MOTS stock for $0.845 each. These shares also each come with a single warrant to purchase an additional share of the company’s stock. The warrants are exercisable for 72 cents per share.
That private placement was revealed yesterday and is set to close today. In total, Motus GI expects to raise some $3.5 million from the offering. It will use these funds for working capital and general corporate purposes.
MOTS Stock Movement
Motus GI originally announced the private placement yesterday, which resulted in shares of MOTS stock falling almost 18% during normal trading hours. That came alongside some 776,000 shares changing hands. For comparison, the company’s daily average trading volume is closer to 303,000 shares.
It doesn’t look like shares of MOTS stock are done falling just yet as they continue to give up ground on Friday morning. As of this writing, the company’s stock has fallen 3.7%. This comes as some 4,800 shares of the medical technology company’s shares have been traded.
Considering MOTS was down as much as 18% during pre-market trading this morning, its recent movement is an improvement. It might even result in the company’s shares bouncing back a little bit during normal trading hours. Investors will want to keep an eye on the stock to see if that happens when markets open today.
There’s also more stock market news traders will want to read about below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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