Aeluma prices 1.7M shares at $13.00 in underwritten public offering

Aeluma (ALMU) priced an underwritten public offering of 1,700,000 shares of its common stock at a public offering price of $13.00 per share. Aeluma expects the gross proceeds from this offering to be approximately $22.1M, before deducting the underwriting discount and other offering expenses. In connection with the offering, Aeluma has granted the underwriters a 30-day option to purchase up to 255,000 additional shares of its common stock at the public offering price, less the underwriting discount. Aeluma expects to close the offering, subject to the satisfaction of customary conditions, on or about September 19. Craig-Hallum is acting as the sole book-running manager for the offering. The Benchmark Company is acting as co-manager for the offering. Aeluma expects to use the net proceeds of the offering, for expanding business development efforts, advancing manufacturing processes to support commercialization traction, and working capital and general business purposes.