Asensus Surgical to sell 23.8M shares at 42c in registered direct offering

Asensus Surgical entered into a definitive agreement for the purchase and sale of an aggregate of 23,809,524 shares of its common stock and warrants to purchase 23,809,524 shares of common stock in a registered direct offering. The shares of common stock and accompanying warrants are being sold at a combined purchase price of $0.42 per share and accompanying warrant to purchase one share of common stock. The warrants have an exercise price of $0.42 per share, are immediately exercisable and will expire five years following the date of issuance. The offering is expected to close on or about July 31, 2023, 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 from the offering to the Company are expected to be $10 million, before deducting placement agent’s fees and other offering expense payable by the Company. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital and funding research and development activities.