Sonnet BioTherapeutics Announces $2.25M Registered Direct Offering Of 5M Shares At $0.45/Share
Portfolio Pulse from Benzinga Newsdesk
Sonnet BioTherapeutics has announced a registered direct offering of 5 million shares at $0.45 per share, raising $2.25 million in total.
June 28, 2023 | 12:07 pm
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Sonnet BioTherapeutics is raising $2.25 million through a direct offering of 5 million shares at $0.45 per share.
The announcement of a direct offering usually leads to a decrease in the stock price as it dilutes the value of existing shares. Therefore, it's likely that SONN's stock price will experience a short-term drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100