09:14 AM EDT, 03/25/2025 (MT Newswires) -- Genelux ( GNLX ) said Tuesday it has priced an underwritten offering of 3 million shares at $3.50 apiece for expected gross proceeds of $10.5 million.

Net proceeds from the offering, slated to close around Wednesday, will be allocated toward working capital and general corporate purposes, the company said.

Genelux ( GNLX ) shares were down more than 18% in recent Tuesday premarket activity.