Aeluma falls after discounted stock offering

Shares of semiconductor company Aeluma ALMU.O fall 12% to $15

ALMU announces offering of 1.7 mln shares at $13 per share

Offering priced at almost 24% discount to stock's last closing price of $17.05

ALMU intends to use proceeds to support business development, enhance manufacturing processes and cover general corporate expenses

Craig-Hallum is acting as sole book-running manager for offering, The Benchmark Company is acting as co-manager

As of last close, ALMU has nearly 16 mln shares outstanding, with market cap of $271 mln - to data compiled by LSEG

Including session's moves, stock up more than 96% YTD