Parabolic Technologies closes $13.5 million public offering
PARA•Parabolic Technologies closed an underwritten public offering that raised approximately $13.5 million in gross proceeds before fees and expenses.
1. Offering details
The offering comprised 4,963,235 Common Units or Pre-Funded Units, with Common Units priced at $2.72 each. Each unit included one Class A common share or Pre-Funded Warrant and two Common Warrants, each with an initial exercise price of $6.80 per share and an alternative cashless exercise option.
2. Overallotment option
Aegis Capital received a 45-day overallotment option covering additional shares equivalent to 15% of Common Units sold and/or additional Common Warrants equivalent to 30%.
