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Astrotech Announces Closing of $37.3 Million Bought Deal Offering of Common Stock and Full Exercise of Option to Purchase Additional Shares
AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation (NASDAQ: ASTC), announced today the closing of its previously announced underwritten public offering
About this update from Astrotech Corporation
[{"type":"text","content":" AUSTIN, Texas--(BUSINESS WIRE)--\nAstrotech Corporation (NASDAQ: ASTC), announced today the closing of its previously announced underwritten public offering of 24,885,828 shares of its common stock, which included 3,245,977 shares sold pursuant to the full exercise of the underwriter’s option to purchase additional shares, at a price to the public of $1.50 per share, less underwriting discounts and commissions. The gross proceeds to the Company from the offering were approximately $37.3 million, before deducting underwriting discounts and commissions and offering expenses payable by Astrotech.\n\nH.C. Wainwright & Co. acted as the sole book-running manager for the offering.\n\nAstrotech intends to use the net proceeds of the offering for general corporate purposes, working capital, and capital expenditures. \n\nThe securities described above were offered by the Company pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-253835) filed with the Securities and Exchange Commission (SEC) and declared effective on March 15, 2021 and the accompanying prospectus contained therein. The offering of the securities was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to this offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by e-mail at [email protected] or by calling (212) 856-5711.\n\nThis announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation, or sale is unlawful. Any offer, if at all, will be made only by means of the prospectus forming a part of the effective registration statement.\n\nAbout Astrotech Corporation\nAstrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. Astrotech i...