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Benzinga
Benzinga
Business
Henry Khederian

Why Clarus Therapeutics Shares Are Getting Hammered

Clarus Nasdaq

Clarus Therapeutics Holdings Inc (NASDAQ:CRXT) shares are trading lower by 52.82% at $0.85 after the company announced an upsized $30 million underwritten public offering at $1.10 per share. 

The offering is expected to close on April 27, 2022, subject to customary closing conditions. Clarus expects to use the net proceeds from the offering, together with its existing cash, for working capital and other general corporate purposes.

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