Beamr Imaging (NASDAQ: BMR) stock surged Tuesday following a $12 million public offering announcement.
Beamr Imaging (BMR) has just announced a high-stakes underwritten public offering of 1,714,200 (1.71 million) ordinary shares at $7.00 each. The company aims to secure a substantial capital injection of around $12 million, excluding underwriting discounts and offering expenses. ThinkEquity, appointed as the exclusive book-running manager, will expertly manage the offering scheduled to conclude on February 15, 2024.
In addition, the company has granted the underwriters a 45-day option to purchase up to an extra 257,100 shares to accommodate any over-allotments. The company will strategically allocate these funds towards various crucial initiatives, including research and development, sales and marketing efforts, cloud operating costs, and general corporate needs such as working capital and capital expenditures.
This financial maneuver follows closely on the heels of Beamr Imaging’s partnership with NVIDIA Corporation (NVDA). The collaboration is geared towards accelerating the adoption of the latest video standard – AV1.
Beamr Imaging (NASDAQ: BMR) Stock Movement
BMR stock jumped 41.31% to close at $14.06 on Tuesday. The traders had exchanged hands with 47,671,974 (47.67 million) shares compared to the average daily trading volume of 2.65 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
