CorMedix Inc. Announces Proposed Public Offering Of Common Stock And Pre-Funded Warrants; No Size Disclosed
Portfolio Pulse from Happy Mohamed
CorMedix Inc. (NASDAQ:CRMD) has announced its intention to offer and sell shares of its common stock and pre-funded warrants in an underwritten public offering. The offering is subject to market conditions and there is no assurance as to when it may be completed or its actual size. The net proceeds will be used for general corporate purposes, commercialization efforts, research and development, and working capital and general expenditures.
June 28, 2023 | 8:09 pm
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CorMedix's announcement of a public offering of common stock and pre-funded warrants could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a decrease in stock price. However, the proceeds from the offering will be used for corporate purposes, which could potentially lead to long-term growth.
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