CORRECTION: Panbela Announces Pricing Of ~$8.5M Public Offering Of 2.27M Shares Of Common Stock Or Pre-Funded Warrants In Lieu Thereof And Two Classes Of Warrants To Purchase Up To An Aggregate Of 4.54M Shares Of Its Common Stock At A Price Of $3.75/Share
Portfolio Pulse from Benzinga Newsdesk
Panbela Therapeutics announces the pricing of a public offering of 2.27 million shares of common stock or pre-funded warrants and two classes of warrants to purchase up to 4.54 million shares at $3.75 per share. The offering is expected to close on June 21, 2023, and raise approximately $8.5 million in gross proceeds.
June 16, 2023 | 12:23 pm
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NEUTRAL IMPACT
Panbela's public offering of 2.27 million shares and warrants to purchase 4.54 million shares at $3.75 per share is expected to raise $8.5 million in gross proceeds.
The public offering will raise capital for Panbela, which will be used for clinical development, working capital, business development, and other general corporate purposes. This news is relevant and important for investors, but the short-term impact on the stock price is neutral as the market has already priced in the offering.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100