India, July 16 -- VivoSim Labs, Inc. (VIVS) shares dropped 29.64 percent, losing $0.25 to trade at $0.6001 on Thursday, after the company announced a $4.0 million private placement priced at $0.85 per share, along with warrants and the repricing of certain existing warrants.
The stock opened at $0.7063 and traded between $0.5850 and $0.7063 during the session on the Nasdaq. It has traded in a 52-week range of $0.5850 to $5.30. Trading volume reached 8.38 million shares, compared with an average daily volume of 1.97 million shares.
The company entered into a securities purchase agreement with a healthcare-focused institutional investor to sell about 4.71 million shares of common stock, or common stock equivalents, and accompanying warrants...