Astrotech Announces Pricing of $18.0 Million Upsized Public Offering
AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation (Nasdaq: ASTC), today announced the pricing of a public offering of an aggregate of 7,826,086 shares of common stock, at a purchase price of $2.30 per share of common stock. The closing of the public offering is expected to occur on or about October 23, 2020, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds of the offering are expected to be approximately $18.0 million, prior to deducting placement agent’s fees and other offering expenses payable by Astrotech. Astrotech plans to use the proceeds from the offering for continuing operating expenses and working capital.
The securities described above are being offered by Astrotech pursuant to a registration statement on Form S-1 (File No. 333-239705) previously filed with and declared effective by the U.S. Securities and Exchange Commission (“SEC”) on October 21, 2020 and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) which became automatically effective on October 21, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the preliminary prospectus and, when available, electronic copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at placements@hcwco.com or by telephone at 646-975-6996.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
