C3is Inc. (NASDAQ:CISS) shares are trending overnight after rebounding 29.69% to $0.13 in after-hours trading on Monday.
The after-hours gain followed a sharp selloff during the regular session, with the stock plunging 80.31% to close at $0.10.
C3is is a ship-owning company that provides seaborne transportation services for dry bulk and tanker cargo.
Public Offering
The move came after C3is announced the pricing of a $6 million underwritten public offering of 11.54 million units at $0.52 per unit.
Each unit consists of one common share and one Class F warrant to purchase one common share.
The company expects gross proceeds of approximately $6 million before deducting underwriting discounts, commissions and other offering expenses. C3is said it expects the offering to close on or about July 28, subject to customary closing conditions.
The company also granted the underwriters a 45-day option to purchase up to 908,765 additional common shares and/or warrants.
Trading Metrics, Technical Analysis
C3is has a market capitalization of $151,910 with a 52-week high of $830.20 and a 52-week low of $0.10.
Over the past 12 months, CISS shares have declined 99.98%.
Benzinga Edge Stock Rankings indicate that CISS has a negative price trend across the short-, medium-, and long-term time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: ImageSymphony on Shutterstock.com
Recent Comments