FatPipe offered 695,656 shares of its common stock in an underwritten initial public offering priced at $5.75 apiece last week.
Late Friday, the company said the U.S.-China tariffs will have a material impact on anticipated sales of U.S. products into China.
The Boca Raton, Florida-based company said it raised the funds by offering convertible notes and warrants to an investor group comprising Pantera Capita and cryptocurrency exchange Kraken.
The company shared new data on PORT-7, a selective A2B receptor inhibitor, showing significant tumor growth inhibition in a mesothelioma model.
CEO Brian Cox said the company is positioned for the most aggressive revenue growth phase in its history.
The company recently avoided a potential delisting due to non-compliance with the listing standards related to the minimum bid price requirement.
The company said it has signed a non-binding letter of intent with Kazakhstan-based LLP STP Corp. to invest in the 130-megawatt liquid-cooled Bitcoin mining project.
The company said its “transformation” is taking longer than initially anticipated.
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Lake Street upgraded Kura Sushi to ‘Buy’ from ‘Hold’ with an unchanged price target of $103