Endra announced May 9 that the IPO would involve 1.68 million units – each including one share of common stock and a warrant to purchase an additional share of common stock – priced at $5 per unit, for a total $8.4 million. Minus the $672,000 underwriting discount and $750,000 in expenses payable by the company, and Endra will have about $7 million to work with.
The units were expected to start trading May 9 on the Nasdaq under the symbol NDRAU, with the offering closing on or about tomorrow. National Holdings subsidiary National Securities Corp. is the sole book-running manager, and Dougherty & Co. is the qualified independent underwriter for the IPO.
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