Benzinga | Jun 7, 2021 11:25AM EDT

MoSys Raises $13M Via Secondary Institutional Equity Offering at 21.5% Discount

* MoSys Inc (NASDAQ:MOSY) inked an agreement to sell 1.8 million shares $7.15 per share to raise $13 million in gross proceeds in an institutional offering.

* The offer price signifies a 21.5% discount to the Friday closing price of $9.11.

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

* MoSys shares gained 466% in the last year.

* Price action: MOSY shares traded lower by 20.5% at $7.24 in the market session on the last check Monday.