Optimi Health (OPTH) shares rose 5.5% to $5.80 as they began trading Wednesday on the Nasdaq Capital Market after the company priced its underwritten public offering of 2.4 million shares at $6.25 each.
The stock opened at $5.50 and reached a high of $6.40. The underwriter has an option to buy up to an additional 360,000 shares, the company said Wednesday in a statement.
Gross proceeds from the offering, expected to close Thursday, are expected to be $15 million.
Optimi plans to use the funds to expand production and distribution in its existing markets and to enter additional markets, including the US.
Price: 5.80, Change: +0.30, Percent Change: +5.45
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