10:30 AM EDT, 09/19/2024 (MT Newswires) -- Haoxi Health Technology ( HAO ) shares fell by more than 75% early Thursday after the Beijing-based company priced a $12 million follow-on public offering of 4 million units priced at $3 each.

Haoxi granted underwriters a 45-day option to buy up to an additional 600,000 units.

Each unit consists of one Class A share and two five-year warrants to buy an additional shares, the company said.

Net proceeds will be used for working capital and general corporate purposes, Haoxi Health ( HAO ) said.

Price: 0.62, Change: -2.38, Percent Change: -79.40