Astrotech Stock Price Fell Over 25% Pre-Market: Why It Happened

By Amit Chowdhry ● April 8, 2021
  • The stock price of Astrotech Corp (NASDAQ: ASTC) fell by over 25% pre-market. This is why it happened.

The stock price of Astrotech Corp (NASDAQ: ASTC) fell by over 25% pre-market. Yesterday, Astrotech announced it entered into an underwriting agreement with H.C. Wainwright & Co. under which the underwriter has agreed to purchase on a firm commitment basis 21,639,851 shares of common stock of the company at a price to the public of $1.50 per share, less underwriting discounts, and commissions. 

The closing of the offering is expected to occur on or about April 12, 2021, subject to satisfaction of customary closing conditions.

The $1.50 per share price imputes a 32.13% downside to the last stock price of Astrotech.

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