ENDRA+Life+Sciences+Inc. (Nasdaq: NDRA) (“ENDRA” or the “Company”), a pioneer of Thermo Acoustic Enhanced UltraSound (TAEUS®), announced today the closing of its previously announced underwritten public offering of 4,312,500 shares of its common stock and warrants to purchase 2,156,250 shares of its common stock, which included the exercise in full by the underwriter of its option to purchase 562,500 additional shares of ENDRA’s common stock and additional warrants to purchase 281,250 shares of common stock. The warrants were sold at the rate of one warrant for every two shares of common stock and are exercisable at a price per share of $1.40. The public offering price for each set of two shares of common stock and accompanying warrant to purchase one share of common stock was $2.41 per set of securities, yielding an effective price of $1.20 per share and $0.01 per warrant, for net proceeds of approximately $4.5 million after deducting the estimated underwriting discounts and commissions and estimated offering expenses.
ENDRA Life Sciences Announces Closing of Public Offering and Full Exercise of Underwriter's Option to Purchase Additional Securities
May 02, 2023
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