Inspira Technologies Oxy (IINN) said Friday it priced a $3.2 million private placement of ordinary shares and warrants to purchase shares.
The company is offering 4.6 million ordinary shares and ordinary warrants to purchase an equal amount of shares at $0.70 per share and accompanying warrant and expects to close the placement on or about Monday.
Warrants in the private placement have an exercise price of $1.10 per share with a term of 18 months, the company said.
Inspira said it plans to use the proceeds for working capital and general corporate purposes.
Shares of the company were down about 12% in recent trading.
Price: 1.00, Change: -0.13, Percent Change: -11.50
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