Bio-Path Holdings, Inc. Announces Pricing Of $2.1M Public Offering Of 3.5M Shares Of Common Stock And Warrant For A Purchase Price Of $0.60/Unit
Portfolio Pulse from Happy Mohamed
Bio-Path Holdings, Inc. (NASDAQ:BPTH) has announced the pricing of a public offering of 3.5 million shares of common stock and accompanying common stock purchase warrants at $0.60 per unit. The offering is expected to generate approximately $2.1 million in gross proceeds before fees and expenses. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close on August 7, 2023.
August 04, 2023 | 1:19 pm
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NEUTRAL IMPACT
Bio-Path's public offering of 3.5M shares at $0.60 each is expected to raise $2.1M. The funds will be used for working capital and general corporate purposes.
The public offering could potentially dilute the value of existing shares, which may negatively impact the stock price. However, the funds raised will be used for working capital and general corporate purposes, which could potentially strengthen the company's financial position and positively impact the stock price. Therefore, the short-term impact on the stock price is uncertain.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100