Tiger Brokers

BUZZ-Autonomix Medical slumps after $9 mln stock offering

Reuters
Nov 22, 2024

** Shares of medical device company Autonomix Medical

slump 53% to $6.35 in early trading

** AMIX sold ~1.4 mln shares in a public offering at $6.54/shr for gross proceeds of $9 mln

** Offering priced at about 52% discount to stock's last close

** Company has ~1.2 mln outstanding shares for $15.6 mln market capitalization, according to data compiled by LSEG

** Ladenburg Thalmann sole bookrunning manager for the offering

** AMIX plans to use the proceeds to fund its clinical trial, among other purposes

** As of last close, AMIX shares up 170% since debut on Jan. 29 this year

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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