OTCPK:DRWIQ - Post by User
Comment by
birdie22on Mar 15, 2017 8:01am
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Post# 25980840
RE:DragonWave arranges $1.79-million (U.S.) offering
RE:DragonWave arranges $1.79-million (U.S.) offering DragonWave Shares Drop 16% Pre-Bell on Plans For $1.8 Million Common Offering
MT Newswires
07:18 AM EDT, 03/15/2017 (MT Newswires) -- DragonWave (DRWI) shares fell 16% in pre-market trade after the supplier of packet microwave radio systems for mobile and access networks said plans to raise nearly $1.8 million in an at-the-market registered direct offering of nearly 1.2 million shares and a concurrent private-placement of warrants to institutional investors of 596,666 shares.
The warrants have an exercise price of $1.50 per share, and are not exercisable for six months and one day from issuance and will expire five and half years from the date of issuance. The price per common share and half of a warrant is $1.50.
The Company intends to use proceeds for general corporate purposes.
Price: 1.60, Change: -0.30, Percent Change: -15.79