Aspira Women's Health Inc. (AWH), a company dedicated to bio-analysis, has recently declared a confirmed agreement regarding the purchase and sale of its common stock. This agreement is between their CEO, Nicole Sandford, and specific current stockholders, with the stock in question being valued at $5.5 million. Following this announcement, it has been observed that the shares of Aspira Women's Health depreciated by approximately 3.15% during pre-market trading.
As stated in the agreement, the company will conduct a direct offering. Here, they will put forward 1,571,000 common shares during a coincidental private transaction. The combined purchase price of these shares will be $3.50, directed towards an institutional investor as well as some current investors. Further, the purchase price for the company officer is set at $4.255 per share.
In addition, the institutional investor and the aforementioned investors will be issued warrants with an exercise price of $4.00 per share, whereas for Nicole Sandford, the exercise price will be $4.13 per share. Both these warrants will be viable starting six months from the issue date and will terminate five years after the first exercise date.
The earnings from this offering are set to be utilized for miscellaneous corporate requirements. As it stands in pre-market trading, shares of Aspira currently trade at $4.00 on the Nasdaq, with a decrease of 3.15%.
