By Stephen Nakrosis
Microbot Medical’s shares dropped after a $2.66 million registered direct offering priced at-the-market.
The company’s stock fell 26.8% to $2.35 at 3:33 p.m. ET on Tuesday. The stock climbed to as high as $3.47 per share before retreating. A total of 13.2 million shares changed hands, about 17 times the 52-week average on a percentage basis. The stock is down 21% this year and 51% in the last 12 months.
Following the market’s close on Monday, Microbot said it would offer $1.4 million of stock in a registered direct offering priced at-the-market. The stock’s price more than doubled on Monday to close at $3.19 after Microbot reported positive results for its LIBERTY Surgical Robotic System.
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