Altamira Therapeutics Announces $5M Public Offering Of 11.11M Shares Of Common Stock At A Price Of $0.45/Share
Portfolio Pulse from Benzinga Newsdesk
Altamira Therapeutics Ltd. (NASDAQ:CYTO) has priced a public offering of 11.11 million common shares at $0.45 per share. The offering also includes common warrants to purchase up to the same number of shares, exercisable at the same price. The gross proceeds from the offering are expected to be around $5.0 million, which will be used for research and development, working capital, and general corporate purposes.
July 06, 2023 | 12:05 pm
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Altamira Therapeutics' public offering could dilute existing shares, potentially leading to a short-term decrease in stock price. However, the funds raised will support R&D and other corporate purposes, which could have long-term benefits.
Public offerings often lead to share dilution, which can decrease the stock price in the short term. However, the funds raised will be used for R&D and other corporate purposes, which could lead to long-term growth and potentially offset the initial negative impact.
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