Femasys (FEMY) Falls 27% as Firm to Raise $8-Million from Share Sale

We recently published 10 Stocks Losing Big. Femasys Inc. (NASDAQ:FEMY) is one of the worst performers of Tuesday.

Femasys extended losses to a second day on Tuesday, slashing 27 percent to close at $0.3760 apiece as investor sentiment was dampened by its planned $8 million follow-on offering.

Under the registration statement, Femasys Inc. (NASDAQ:FEMY) is set to issue more than 10.4 million common shares and pre-funded warrants to purchase up to 11.75 million common shares.

Each common share or pre-funded warrant comes with an accompanying common warrant, with a total of 22 million warrants being sold.

The combined public offering for each share of common stock and accompanying common warrant is $0.36, except for 87,363 shares and accompanying warrants sold to certain officers of the company at a price of $0.5151 per share and accompanying warrant.

According to Femasys Inc. (NASDAQ:FEMY), proceeds from the offering will be used to fund its expansion plans, development of its products and product candidates, as well as general corporate purposes and capital expenditures.