VSee Health Inc. (NASDAQ:VSEE) fell 5.1% in premarket trading on Wednesday after the company announced plans to raise $6 million through a new stock offering.
The telemedicine solutions provider said it has signed a securities purchase agreement with a single institutional investor for the sale of 9,836,065 shares of common stock, along with warrants to buy up to 19,672,130 additional shares. The combined effective price for each share-and-warrant unit is $0.61.
The warrants, which also carry an exercise price of $0.61 per share, will become exercisable immediately once shareholders grant approval and will remain valid for five years from the first exercise date.
VSee Health said it expects the offering to close on or around December 1, 2025, pending standard closing conditions. Proceeds will be directed toward working capital needs and general corporate purposes.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the transaction.