Assertio Holdings, Inc. [NASDAQ: ASRT] declared that it has commenced the Registered Direct Offering after signing a securities acquisition agreement with institutional investors to buy 35,000,000 shares of its common stock at a price of $0.98 per share, which is a premium to market-based on valid Nasdaq “minimum price” rules.
Assertio disclosed that the anticipated profit from this offering is $34.3 million before subtracting the charges of agents and other projected expenditures of the grant. Assertio is planning to use the profit from the offering for general business purposes.
Shares of Assertio Holdings, Inc. [NASDAQ: ASRT] rocketed 14.56% at $1.18 during the trading session of Tuesday. In the past 52-weeks of trading, this firm’s share went from a low point around $0.33 to briefly over $1.53. Its shares moved up 257.58% from its 52-week low and moved down to -22.88% from its 52-week high.
Looking at its profitability, it as return on Investment, Equity, and Assets is -39.80%, -259.40%, and -55.10%, respectively. Its Gross Margin is 88.40%. Turning our focus on its liquidity, it has a current ratio of 0.80 and a quick ratio is also 0.70. Assertio Holdings market cap has remained high, reaching $113.39 million at the time of writing.
Furthermore, it has been revealed that the offering will be projected to finalize on February 12, 2021, and is dependent on certain closing requirements. The placement agent for the offering is Roth Capital Partners. The securities are being presented in accordance with the provisions of a shelf registration declaration on Form S-3, which has been asserted valid by the SEC on February 4, 2021.