SOS announces pricing of $7.5M registered direct offering

21 hours ago 1

SOS (NYSE:SOS) Wednesday said that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of 2,142,855 American Depositary Shares.
In a concurrent private placement, the company also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 4,285,710 ADSs.
The combined effective offering price for each ADS and the accompanying warrants is $3.50.
Each private placement warrant will be immediately exercisable, expire five and one-half years from the initial exercise date, and will have an exercise price of $3.50 per share.