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Stock impact report

BioHarvest Sciences Announces Closing of $19.9 Million Upsized Public Offering of Common Stock and Exercise of Underwriter's Option to Purchase Additional Shares [Yahoo! Finance]

BioHarvest Sciences Inc. (BHST) 
Company Research Source: Yahoo! Finance
Inc. (NASDAQ: BHST) (FSE: 8MV0) ("BioHarvest" or "the Company"), a company pioneering its patented Botanical Synthesis technology platform, announces the closing of its previously announced underwritten public offering of 2,846,854 shares of common stock, no par value, and at a public offering price of $7.00 per share, which includes 361,854 shares issued upon the exercise by the underwriters of their option to purchase additional shares of common stock in the offering. The gross proceeds from this offering were $19.9 million, before deducting the underwriting discount and other offering expenses. Craig-Hallum acted as the sole managing underwriter for the offering. BioHarvest expects to use the net proceeds of the offering for immediate funding of additional manufacturing expansion, research and development, marketing, debt reduction or debt refinancing, other capital expenditures, and general corporate purposes, including funding working capital. Ilan Sobel, CEO of BioHarvest Show less Read more
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