Astrotech Corp Stock Price, News & Analysis

Astrotech Corporation (NASDAQ: ASTC) has successfully completed its public offering of 24,885,828 shares of common stock at $1.50 per share, yielding gross proceeds of approximately $37.3 million. This offering included 3,245,977 shares sold through the underwriter's option. Proceeds will be allocated for general corporate purposes, working capital, and capital expenditures. The offering was conducted under a 'shelf' registration statement effective since March 15, 2021, with H.C. Wainwright & Co. as the sole book-running manager.

Astrotech Corporation (NASDAQ: ASTC) announced an increase in its public offering to 21,639,851 shares at $1.50 each, expecting gross proceeds of about $32.5 million. The offering, managed by H.C. Wainwright & Co., is set to close around April 12, 2021, pending customary conditions. An additional 3,245,977 shares may be purchased by the underwriter within 30 days. The net proceeds will be utilized for general corporate purposes, including working capital and capital expenditures.

Astrotech Corporation (NASDAQ: ASTC) has entered an underwriting agreement with H.C. Wainwright & Co. for the firm purchase of 6,666,667 shares of common stock at $1.50 per share, aiming for approximately $10 million in gross proceeds. The offering is set to close around April 12, 2021, pending customary conditions. An additional 1,000,000 shares may be sold under a 30-day option. The funds will be used for general corporate purposes and capital expenditures. The offering is part of a shelf registration statement effective March 15, 2021.

Astrotech Corporation's subsidiary, BreathTech, has signed an Investigator-Initiated Study Agreement with Cleveland Clinic to use its BreathTest-1000™ for analyzing COVID-19 diagnosis via exhaled breath. The pilot study will compare breath samples between positive and negative COVID-19 PCR test subjects to evaluate volatile organic compounds (VOCs). Successful results may lead to FDA emergency use authorization for commercial use. The study is significant as it aims for early illness detection, with Cleveland Clinic's past research supporting VOC metabolite technology.

Astrotech Corporation (NASDAQ: ASTC) has announced a manufacturing agreement with Sanmina Corporation for its mass spectrometry products. After a thorough evaluation of contract manufacturing organizations, Astrotech's CEO expressed confidence in Sanmina's capabilities to support the company's growth plans. The agreement includes the production of 1st Detect's TRACER 1000™ and future manufacturing of AgLAB's AgLAB-1000™ and BreathTech's BreathTest-1000™ products.

Astrotech Corporation (NASDAQ: ASTC) reported financial results for Q2 FY2021, ending December 31, 2020, raising $37 million in gross proceeds to enhance growth. The company focuses on expanding its TRACER 1000 explosives trace detector sales, launching the AgLAB-1000-D2 in the hemp industry, and developing the BreathTest-1000 with The Cleveland Clinic Foundation. Notable achievements include exceeding $1 million in purchase orders for the TRACER 1000 and recognition with a Gold Award for CBRNE Detection. SG&A and R&D expenses were reduced significantly, contributing to improved financial flexibility.

Astrotech Corporation (NASDAQ: ASTC) has successfully completed a registered direct offering of 2,845,535 shares of common stock at a price of $3.25 per share, yielding approximately $9.25 million in gross proceeds. The funds will be utilized for ongoing operating expenses and working capital. The offering was facilitated by H.C. Wainwright & Co., under a previously established shelf registration statement with the SEC.

Astrotech Corporation (NASDAQ: ASTC) has announced a registered direct offering to institutional investors, selling 2,845,535 shares at $3.25 each, expecting gross proceeds of approximately $9.25 million, set to close around February 16, 2021. The funds will be allocated for operating expenses and working capital. H.C. Wainwright & Co. is the exclusive placement agent.

The offering is conducted under a previously filed shelf registration statement, and details will be included in a prospectus available through the SEC.