Lichen China (LICN) revealed a $2.8 million registered direct offering on Thursday with several investors.
The company said it would issue 20 million class A shares, or in some instances a pre-funded warrant, to the investors at $0.14 per share.
The pre-funded warrants will be priced the same as the shares, minus the exercise price of $0.001 per share, the company said.
The offering is expected to close Friday.
The company's shares fell 15% in recent trading.
Price: 0.18, Change: -0.03, Percent Change: -14.95
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