PSQ Holdings falls on $7.5 mln direct offering

Shares of software firm PSQ Holdings PSQH.N fall 11% to $1.05, hitting record low after co announces $7.5 mln registered direct offering

Company to sell about 6.8 mln shares and accompanying warrants to buy up to 8.52 mln shares at a combined price of $1.10 per unit; warrants will be exercisable at $1.18 per share six months after issuance

Offering expected to close on December 19; net proceeds to be used for general corporate purposes, including working capital

Donald Trump Jr. sits on the PSQH board

PSQH stock down 78.6% YTD, including session moves; co's market cap stood at $54.5 mln