Tonix Pharmaceuticals shares are trading lower after the company priced its public offering of 7 million shares at $1/share.
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has priced its public offering of 7 million shares at $1 per share, which has led to a decrease in its stock price.
July 28, 2023 | 3:49 pm
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Tonix Pharmaceuticals' stock price is trading lower after the company priced its public offering of 7 million shares at $1 per share.
The company's decision to price its public offering at $1 per share, which is likely lower than its current trading price, has led to a decrease in its stock price. This is because the market perceives the offering price as the company's true value, leading to a sell-off of the stock.
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