A2Z Smart Technologies drops 23% on withdrawal of offering (NASDAQ:AZ)
Press Room
A2Z Smart Technologies (NASDAQ:AZ) has withdrawn its previously announced proposed public offering of securities and is no longer proceeding with ThinkEquity as its placement agent.
The company instead intends to proceed, without a placement agent, with a registered direct offering of its common shares, which the company anticipates will be up to $4.5M, and a private placement to close on a later date which the company anticipates will be up to $2.5M common shares.
The company expects to announce entry into definitive binding agreements pre-market April 2, 2024.
The stock price slumped ~23% on Monday during after hours of trading.
