AUSTIN, Texas--(BUSINESS WIRE)--Astrotech Corporation (Nasdaq: ASTC), today announced the pricing of a public offering of an aggregate of 7,826,086 shares of common stock, at a purchase price of $2.30 per share of common stock. The closing of the public offering is expected to occur on or about October 23, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds of the offering are expected to be approximately $18.0 million, prior to deducting placement agent’s fees and other offering expenses payable by Astrotech. Astrotech plans to use the proceeds from the offering for continuing operating expenses and working capital.

About Astrotech Corporation

Astrotech (NASDAQ: ASTC) is a science and technology development and commercialization company that launches, manages, and builds scalable companies based on innovative technology in order to maximize shareholder value. 1st Detect develops, manufactures, and sells trace detectors for use in the security and detection market. AgLAB is developing chemical analyzers for use in the agriculture market. BreathTech is developing a breath analysis tool to provide early detection of lung diseases. Astrotech is headquartered in Austin, Texas. For information, please visit www.astrotechcorp.com.