Genprex shares are trading lower after the company announced a $7.5 million registered direct offering with an institutional investor for the sale and issuance of 7,425,744 shares and warrants for $1.01 per unit.
Portfolio Pulse from Benzinga Newsdesk
Genprex has announced a $7.5 million registered direct offering with an institutional investor. The deal involves the sale and issuance of 7,425,744 shares and warrants at $1.01 per unit. Following the announcement, Genprex shares are trading lower.
July 19, 2023 | 7:46 pm
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Genprex's stock price is trading lower following the announcement of a $7.5 million registered direct offering. The offering includes the sale and issuance of 7,425,744 shares and warrants at $1.01 per unit.
The announcement of a direct offering usually leads to a decrease in the stock price as it dilutes the value of existing shares. In this case, Genprex's stock price has dropped following the announcement of a $7.5 million registered direct offering.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100