VirTra [NASDAQ: VTSI] to Raise $18.0 Million from Registered Direct Offering

VirTra, Inc. [NASDAQ: VTSI] declared Wednesday the pricing of 3 million shares of common stock. The firm has set a price of $6.00 per share, which is a premium to market based on the Nasdaq “Minimum Price” rule. The firm has inked an agreement with certain institutional investors.

The firm is anticipating getting a profit of $18 million before subtracting the fees of placement agents and other projected offerings. VirTra is aiming to utilize the profit from the registered direct offering for the general business purposes including the general working capital.

Shares of VirTra Inc skyrocketed 66.74% as it gained +3.19 during the trading session of Tuesday. The firm has recorded a trading volume of 164.63 million as compared to the average volume of 61.76K. The firm has set $7.97 the price of the share.

In the past 52-weeks of the trading session, the share of the firm went up 298.50% and 30.87% from its 52-week low and 52-week high, respectively. VTSI has a total market capitalization of $58.90 million at the time of writing. It is anticipated that the firm will execute the offering on or about April 5, 2021, depending on certain closing conditions.