ZyVersa Therapeutics, Inc. Announces Pricing Of $2.1M Public Offering Of 12,727,273 Shares Of Common Stock And Warrants At A Price Of $0.165/Unit
Portfolio Pulse from Happy Mohamed
ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA) has announced the pricing of a public offering of 12,727,273 shares of common stock and warrants at $0.165 per unit, aiming to raise approximately $2.1 million. The proceeds will be used for working capital, general corporate purposes, and potentially to redeem the remaining outstanding shares of its Series A preferred stock. The closing of the offering is expected on July 26, 2023.
July 24, 2023 | 12:12 pm
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ZyVersa Therapeutics' public offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price. However, the raised capital could strengthen the company's financial position in the long run.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. However, the capital raised can be used to strengthen the company's financial position, which could have positive long-term effects.
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