By Colin Kellaher
ImmunoPrecise Antibodies shares slid in premarket trading Wednesday after the company said it is selling 1.1 million shares at $1 apiece, well below Tuesday’s closing price of $1.54.
The shares were recently trading down about 40% to 93 cents. The stock is down more than 70% this year.
The Victoria, British Columbia-based biotherapeutic research and technology company seeks to raise $1.1 million in the offering. ImmunoPrecise had about 25 million shares outstanding before the offering.
Write to Colin Kellaher at [email protected]
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