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Investing.com -- VSee Health Inc. (NASDAQ:VSEE) stock dropped 5.1% in premarket trading Wednesday after the telemedicine solutions company announced a $6 million stock offering.
The company has entered into a securities purchase agreement with a single institutional investor for 9,836,065 shares of common stock and warrants to purchase up to 19,672,130 additional shares at an effective combined price of $0.61 per share.
The warrants will have an exercise price of $0.61 per share, will be exercisable immediately following shareholder approval, and will expire five years from the initial exercise date.
VSee Health expects the offering to close around December 1, 2025, subject to customary closing conditions. The company plans to use the net proceeds for working capital and general corporate purposes.
A.G.P./Alliance Global Partners is serving as the sole placement agent for the offering.
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