Rhea-AI Summary
Orbsat Corp (OTCQB:OSAT) has priced an upsized public offering of 2,880,000 units at $5.00 each, aiming for gross proceeds of $14.4 million. Each unit includes one share of common stock and one warrant to purchase an additional share. The offering follows a 1-for-5 reverse stock split and is set to close on June 2, 2021. Funds will be allocated for inventory, R&D, marketing, and working capital. Trading will begin on the Nasdaq under symbols OSAT and OSATW.
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