Benzinga | Feb 22, 2021 07:17AM EST

ChromaDex Raises $25M Via Equity At 22% Discount

* ChromaDex Corp (NASDAQ: CDXC) enters into a securities purchase agreement to sell $25 million in common stock via a private placement led by a new international investor.

* The company will sell around 3.8 million shares at $6.50 per share, representing a discount of 22% on the last close price of $8.31 on Friday.

* The placement will close by February 23.

* ChromaDex plans to use the proceeds to accelerate the Tru Niagen brand's growth, advance clinical research on NAD+ precursors, and support general corporate purposes.

* Price Action: CDXC shares are down 3.49% at $8.02 in the pre-market session on the last check Monday.