Consumer-packaged goods company Neptune Wellness Solutions (NASDAQ:NEPT) priced public offering of 1.8M shares and accompanying warrants to purchase up to an aggregate of 1.8M shares at a combined public offering price of $2.50 per share and accompanying warrant.
Gross proceeds of ~$4.5M.
The warrants have an exercise price of $2.50 per share, are immediately exercisable upon issuance and will expire five years following the date of issuance.
The closing of the offering is expected to occur on or about September 26, 2023.
The company plans to use the proceeds of the offering for working capital, including for payment of accounts payable due to suppliers.