YYForce Inc. (NASDAQ:YFOR) shares fell 15.22% to $1.17 in after-hours trading Monday after the company entered into an at-the-market sales agreement to offer up to $20 million in Class A ordinary shares.
YYForce is a Singapore-based company registered as a foreign private issuer with the SEC.
The ATM Agreement
YYForce entered into the agreement on Oct. 5 with Spartan Capital Securities, LLC, serving as sales agent, according to an SEC filing. Under the agreement, the company may offer and sell up to $20 million in Class A ordinary shares from time to time, at its sole discretion, through Spartan.
Terms Of The Sale
Spartan will use commercially reasonable efforts to sell the shares and will receive a placement fee of 3.75% of gross proceeds from any shares sold. The company is not obligated to sell any shares under the agreement, and no assurance was given as to whether, or at what price or volume, any shares will ultimately be sold.
Trading Metrics, Technical Analysis
YYForce has a market capitalization of approximately $17.72 million.
Over the past year, YYForce shares have fallen 99.76%.
The stock has traded between a 52-week high of $2.05 and a 52-week low of $1.23.
Benzinga’s Edge Stock Rankings show a negative price trend across short-, medium- and long-term time frames.
Price Action: In the regular session, YYForce shares fell 5.48% to close at $1.38 on Monday.
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