Benzinga | Mar 23, 2021 11:05AM EDT

My Size Shares Are Trading Lower After Raising $3.3M Via Secondary Share Sale At 19% Discount

E-commerce measurement solutions creator My Size Inc (NASDAQ: MYSZ) priced 2.6 million shares at $1.26 per share to raise $3.3 million in gross proceeds in a secondary offering.

* The offer price signifies a 19.2% discount to the March 22 closing price of $1.56.

* The offering proceeds would be utilized for working capital and general corporate purposes.

* The underwriters have a 45-day option to procure additional shares up to 15% of the offering size.

* The company raised $2 million in gross proceeds from another January offering for working capital and general corporate purposes.

* MYSZ stock has gained 36% in the last year.

* Price action: MYSZ shares traded lower by 20.6% at $1.24 on the last check Tuesday.