Tonix Pharmaceuticals Prices Public Offering Of 7M Common Shares At $1/Share
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has priced its public offering of 7 million common shares at $1 per share. The closing of the public offering is expected to occur on or about August 1, 2023.
July 28, 2023 | 6:15 am
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Tonix Pharmaceuticals' public offering of 7 million shares at $1 per share may dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. Given that Tonix Pharmaceuticals is directly issuing 7 million shares at $1 per share, this could potentially dilute the equity of existing shareholders, leading to a decrease in the stock's price in the short term.
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