RTTNews | Dec 13, 2021 09:51AM EST

09:50 Monday, December 13, 2021 (RTTNews.com) - Shares of micro-cap company Nisun International Enterprise Development Group Co., Ltd (NISN) tanked over 50% on Monday morning after the company announced pricing of a firm commitment underwritten public offering of 19.25 million Class A common shares and pre-funded warrants to buy shares.

NISN is currently trading at $4.81, down $6.22 or 56.3917%, on the Nasdaq.

The company said it expects gross proceeds of $77 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the company.

The pre-funded warrants will be offered at the same $4 a share price as the common shares, less the $0.001 a share exercise price of each pre-funded warrant.

The company intends to use the proceeds from the offering for general corporate purposes, including, but not limited to, working capital and other business opportunities.

The closing of the offering is expected on Tuesday, December 14.

Read the original article on RTTNews ( https://www.rttnews.com/3248873/nisun-international-stock-nearly-halves-on-pricing-of-public-offering.aspx)

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