AeroClean Technologies (AERC) Stock Surged Over 680% In Its Public Debut

By Amit Chowdhry ● Nov 25, 2021
  • The stock price of AeroClean Technologies (NASDAQ: AERC) increased by 689.4% in its trading debut. These are the details.

The stock price of AeroClean Technologies (NASDAQ: AERC) increased by 689.4% in its trading debut. The company offered 2.5 million shares of common stock at a public offering price of $10 per share. The stock price increased as high as $101.87, meaning that it increased by 918.7% during intraday trading yesterday.

AeroClean is known as being an air-filtering company that developed a device called Purgo. Purge is used for sanitizing hospitals, airplanes, office buildings, etc. The solutions are medical-grade and can eradicate viral, fungal, and bacterial airborne pathogens.

The Benchmark Company, LLC, HCFP/Capital Markets LLC and Valuable Capital Limited acted as the joint bookrunning managers for the offering.

Freshfields Bruckhaus Deringer US LLP acted as counsel to the company. And Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as counsel to the underwriters.

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