Worldwide healthcare network operator HealthLynked Corp (OTCMKTS:HLYK) did not have a particularly great time in the markets last week and actually suffered from a selloff on Friday.
After the company announced the signing of a securities purchase agreement with some institutional investors on Friday, the stock tanked sharply and ended the day with losses of as much as 10%. In this context, it might be a good idea for investors to take a closer look at the details of the securities purchase agreement. As per the terms of the agreement, as many as 3,703,704 shares of the HealthLynked common stock are going to be offered as part of a registered direct offering.
However, there is more to it. The company also announced that the shares are going to be offered for $0.54 each and the offering is expected to raise gross proceeds of as much as $2,000,000. On the other hand, the institutional investors has also been given unregistered warrants by HealthLynked by way of which the investors is going to be able to pick up 1,851,852 shares of the common stock. The offering is going to be concluded on August 31, 2021 and the stock is likely to be in focus among many investors.
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