My Size Inc. (MYSZ) stock declines in pre-market session. Let’s find out why

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My Size Inc. (MYSZ) stock gained by 5.41% in the last trading close whereas the MYSZ stock price declines by 20.51% during pre-market session. On March 22, MySize has made two important announcement, firstly MYSZ has announced a pricing of $3.3million underwritten public offering of its common stock and secondly MySize is about to launch an app for Evropeyskiy Mall. MySize is the developer of unique measurement technology which is based on sophisticated algorithms, cutting-edge technology and also broad applications and has incorporated the apparel, e-commerce, DIY, shipping, and parcel delivery industries.

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MySize launching an Application for Evropeyskiy Mall

Evropeyskiy Mall is the largest shopping center in Russia. MySize has planned to launch a user friendly application with the support of Evropeyskiy to provide consumers with an easy online shopping experience allowing them to digitally try on clothing at dozens of stores across the mall, as well as smooth cashier-free shopping through in-app check out.Anyone who will visit the Evropeyskiy Mall will be able to download the MySize ID app, which uses sensors already installed in the smartphones of customers that will provide them with highly precise clothing sizes for any type of clothing.

MySize and Evropeyskiy Mall with this application are providing the customers with an unmatched shopping experience by combining the online convenience of individually controlled transactions with the in-person retail advantage of being able to leave the mall with an item physically in hand.

$3.3 million priced, Underwritten public offering

MySize revealed the pricing of an underwritten public offering, with net amount for the company, calculated to be about $3.3 million before cutting underwriting discounts and commissions, as well as approx. expenses of offering which has to be paid by MYSZ. MySize is planning to use the net amount generated from this offering for working capital and general corporate purpose. Aegis Capital Corp. is working as the only book-runner for the offering.

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