Tonix Pharmaceuticals Announces Proposed Public Offering; Size Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) has announced its intention to offer and sell shares of its common stock and warrants in a public offering. The size of the offering has not been disclosed. The proceeds will be used for working capital, general corporate purposes, and the build out of the company's manufacturing and R&D facilities. A.G.P./Alliance Global Partners and Brookline Capital Markets are acting as placement agents for the offering.
July 27, 2023 | 8:33 pm
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Tonix Pharmaceuticals is planning a public offering of its common stock and warrants. The proceeds will be used for various corporate purposes, including R&D and manufacturing expansion.
The announcement of a public offering can have a mixed impact on a company's stock. On one hand, it can dilute existing shares, potentially leading to a decrease in share price. On the other hand, the funds raised can be used to invest in growth opportunities, which could have a positive long-term impact. The exact impact will depend on market conditions and investor sentiment.
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