Multi Ways announces pricing of $1.485 million registered direct offering

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Multi Ways (NYSE:MWG) announced on Friday the pricing of a registered direct offering of 9 million ordinary shares, par value $0.00025 per share, and warrants to purchase up to 9 million ordinary shares.
The offering is priced at $0.165 per ordinary share and accompanying warrant, with expected gross proceeds of $1.485 million.
Each warrant will be exercisable at $0.198 per share for five years following issuance.
The company intends to use the net proceeds for working capital and general corporate purposes.
MWG closed -4.25% at $0.335.
Source: Press Release

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