Inspire Veterinary Partners (NASDAQ: IVP) stock jumped on Thursday after announcing the completion of a $4.0 million public offering.
Inspire Veterinary Partners (IVP) has successfully concluded its previously announced public offering of Class A common stock, generating gross proceeds of around $4.0 million, excluding placement agent fees and other offering expenses. The Company plans to allocate the net proceeds towards strategic acquisitions, engaging external third-party marketing and business consultants, bolstering working capital, and addressing general corporate needs.
The public offering comprised 47,058,823 (47.05 million) shares of Class A common stock and provided some investors with pre-funded warrants as an alternative to the shares. The shares and warrants are worth $0.085 each, with warrants exercisable at $0.0001 per share. Inspire made these pre-funded warrants available to purchasers whose ownership would otherwise exceed 4.99% or 9.99% of its outstanding Class A common stock.
Spartan Capital Securities, LLC has taken on the role of the sole placement agent for this offering.
Inspire Veterinary Partners (NASDAQ: IVP) Stock Reaction
IVP stock surged 8.82% to close at $0.12 on Thursday. The traders had exchanged hands with 51,289,526 (51.28 million) shares compared to the average daily trading volume of 4.68 million.
Inspire Veterinary Partners IVP IVP shares IVP stock IVP stock news NASDAQ: IVP
