Business
Astrotech Announces $1.77 Million Registered Direct Offering Priced At-the-Market
AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation (NASDAQ: ASTC), today announced that it has entered into definitive agreements with several
About this update from Astrotech Corporation
[{"type":"text","content":" AUSTIN, Texas--(BUSINESS WIRE)--\nAstrotech Corporation (NASDAQ: ASTC), today announced that it has entered into definitive agreements with several institutional investors for the purchase and sale of 354,000 shares of Astrotech's common stock, at a purchase price of $5.00 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about March 27, 2020, subject to the satisfaction of customary closing conditions.\n\n\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\n\n\nThe gross proceeds to Astrotech from this offering are expected to be $1.77 million, before deducting the placement agent’s fees and other offering expenses payable by Astrotech. The Company intends to use the net proceeds from this offering for continuing operating expenses and working capital.\n\n\nThe shares of common stock are being offered by Astrotech pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-226060) previously filed with the Securities and Exchange Commission (the \"SEC\") on July 3, 2018 and declared effective by the SEC on August 20, 2018. The offering of the securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected].\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.\n\n\nAbout Astrotech\n\n\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...