04:14 AM EDT, 04/02/2024 (MT Newswires) -- A2Z Smart Technologies Corp. ( AZ ) said late Monday it has withdrawn its previously announced public offering with ThinkEquity as its placement agent.

The company said it now plans to raise up to $4.5 million in a registered direct offering of common shares, and up to $2.5 million in a private placement of common shares.

A2Z Smart ( AZ ) said it intends to announce definitive binding agreements for the proposed transactions Tuesday premarket.

Shares of the company were down more than 22% in after-market hours on Monday.

Price: 0.37, Change: -0.11, Percent Change: -22.51