stock offering

The Gaithersburg, Maryland-based firm intends to use the proceeds for general corporate purposes, including working capital and product development.

The firm said it will offer 25 million units consisting of common stock and common warrants at $.40 per unit. 

The company previously said that it planned to publicly offer up to $10 million in stocks and warrants. It has not priced the offering yet. 

Great Basin plans to use the proceeds for R&D, sales and marketing expenses, the redemption of certain notes, and general corporate purposes.

The company raised net proceeds of $12.2 million, which it will use for various purposes, including working capital and payment of legacy obligations. 

The firm said it will use the proceeds for working capital, trade payables, payment of legacy obligations, and general corporate purposes.

The firm is aiming to sell 15.4 million shares of common stock at $3.10 per share, and plans to use the proceeds for working capital and capital expenditures.

After announcing a $65 million public offering on Monday to fund commercialization efforts, the firm has increased the expected proceeds to $75 million.

The firm said that it intends to use the net proceeds from the offering for general corporate purposes and to fund its commercialization efforts.

The company said in an SEC document that it will offer about 6.3 million shares of its common stock. Some purchasers would also be able to buy prefunded warrants.  

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