Histogen Inc (NASDAQ:HSTO) is moving higher in the pre-market session. The sock has seen a fall of about 6% over the past week.

Market Reaction

As of 7:44, HSTO is up by 2.71% to $2.48 with 8K shares traded so far.

Major Trigger:

Histogen Announces Closing of $6.5 Million Registered Direct Offering Priced At-the-Market …

Key Highlights:

• announced the closing of its previously announced registered direct offering for the issuance and sale of 5,977,300 shares of its common stock, at a purchase price of $1.10 per share, in a registered direct offering priced at-the-market under Nasdaq rules. Histogen has also issued to the investors, in a concurrent private placement, unregistered warrants to purchase up to an aggregate of 4,781,840 shares of its common stock. The offering was priced at-the-market under Nasdaq rules.
• H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
• The warrants have an exercise price of $1.00 per share, are immediately exercisable and will expire five and one-half years from the date of issuance.
• The gross proceeds from this offering were approximately $6.5 million, before deducting placement agent’s fees and other offering expenses. Histogen intends to use the net proceeds from this offering for working capital and general corporate purposes, including expenses related to the clinical development of its pipeline programs, further research and development, capital expenditures and general and administrative expenses.