Asure Software (NASDAQ:ASUR) announces the pricing of an underwritten public offering

Asure Software (NASDAQ:ASUR) changed -5.35% to recent value of $7.25. The stock transacted 1660404 shares during most recent day however it has an average volume of 73.16K shares. It spotted trading -21.02% off 52-week high price. On the other end, the stock has been noted 68.60% away from the low price over the last 52-weeks.

On Dec. 18, 2020, Asure Software (NASDAQ:ASUR) a leading provider of cloud-based Human Capital Management (HCM) software solutions, reported the pricing of an underwritten public offering of its newly issued shares of common stock. The offering consists of 2,600,000 newly issued shares being sold by Asure at a public offering price of $7.25 per share. The gross proceeds to Asure from this offering are expected to be $18,850,000, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the company. Asure has granted the underwriters a 30-day option to purchase up to an additional 390,000 shares of common stock from Asure at the same price. The offering is expected to close on December 22, 2020, subject to customary closing conditions.

Asure intends to use the net proceeds received from the sale of the common stock for general corporate purposes. Asure may also use a portion of the net proceeds to acquire or invest in complementary businesses, assets or technologies, although Asure has not entered into any definitive agreement with respect to any specific acquisition at this time.

ASUR has a gross margin of 54.70% . Its earnings per share (EPS) expected to touch remained -235.90% for this year while earning per share for the next 5-years is expected to reach at 25.00%.

The company has 15.87M of outstanding shares and 13.62M shares were floated in the market. According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.64% from the mean of 20 days, -5.77% from mean of 50 days SMA and performed 6.74% from mean of 200 days price. Company’s performance for the week was -3.33%, -4.48% for month and YTD performance remained -11.37%.

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