By Dean Seal
Shares of Genasys sank after the company’s public offering was priced at $2 a share, 56 cents below Wednesday’s closing price.
The stock was down 24% at $1.95 in early trading. Shares have fallen 47% year-to-date.
The provider of communications hardware and software solutions said Thursday morning that it will offer 5 million shares at $2 apiece for gross proceeds of $10 million.
The offering is expected to close Oct. 2.
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