Genprex Announces $7.5M Registered Direct Offering With An Instatutional Investor For The Sale And Issuance Of 7,425,744 Shares And Warrants At A Combined Price Of $1.01/Unit, Priced At-the-Market Under Nasdaq Rules
Portfolio Pulse from Happy Mohamed
Genprex, Inc. (GNPX) has announced a registered direct offering with an institutional investor for the sale and issuance of 7,425,744 shares and warrants at a combined price of $1.01 per unit. The offering is priced at-the-market under Nasdaq rules. The gross proceeds from this offering are expected to be approximately $7.5 million. The funds will be used for working capital and general corporate purposes.
July 19, 2023 | 12:09 pm
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Genprex's registered direct offering could potentially dilute existing shareholders' equity, but it will also provide the company with additional capital for its operations.
The issuance of new shares often leads to dilution of existing shareholders' equity. However, the additional capital raised can be beneficial for the company's operations and growth. The impact on the stock price can be neutral in the short term as the market absorbs this news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100