CitroTech Prices $5.6 Million Public Offering at $2.50 per Share

CitroTech Inc. (CITR) priced an underwritten public offering of 2.24 million common shares at $2.50 per share on Wednesday, expecting gross proceeds of approximately $5.6 million. The offering is expected to close on or about October 22. The wildfire-protection company granted the underwriter a 45-day option to purchase up to an additional 336,000 shares at the offering price, less underwriting discounts and commissions. Net proceeds are intended for working capital and general corporate purposes. CitroTech closed trading 9.72% lower at $2.6000 on the New York Stock Exchange on Tuesday.