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Benzinga

Business

Akanksha Bakshi

Renovare Environmental Raises $1.3M Via Equity Offering

RENO (Organization)

Renovare Environmental Inc (NASDAQ:RENO) entered a securities purchase agreement with certain institutional investors regarding the private placement of ~$1.3 million worth of common stock and warrants.
The company has agreed to sell ~2.14 million shares and warrants to purchase 2.14 million shares. The purchase price for one share of common stock and one corresponding warrant will be $0.60.
The company expects gross proceeds from the offering to be ~$1.3 million and to close the offering on January 25, 2022.
Price Action: RENO shares are trading lower by 22.8% at $0.57 on the last check Friday.

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