May 16, 2018 9:46am
VSTM closed up +$0.09 to $4.53 and is down in the pre-market -$0.79 or -14.90%
... With 50.9 M shares outstanding and a float of 49.3 M shares
VSTM had increased its debt facility to $50 M from $25 M having ended Q1/18 with $64.2 M in cash to fund operation into 2019
An offering of $35 million of its shares of 7,777,778 shares; VSTM has granted the underwriter a 30-day option to purchase up to an additional $5.25 million or 1,666,666 shares of its shares of common stock.
Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.
Their cash position "hands" were forced - SELL