Palisade Bio Announces $2M Registered Direct Offering Of Common Stock Priced At Market Under Nasdaq Rules
Portfolio Pulse from Happy Mohamed
Palisade Bio, Inc. (NASDAQ:PALI) has announced a registered direct offering of 2,339,398 shares of common stock for gross proceeds of $1,965,094.32. The company intends to use the net proceeds for working capital and general corporate purposes. The closing of the offering is expected to take place on or about September 11, 2023.
September 07, 2023 | 12:42 pm
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Palisade Bio's registered direct offering of common stock may lead to a short-term dilution of existing shares, potentially impacting the stock price.
The offering of new shares often leads to dilution of existing shares, which can put downward pressure on the stock price in the short term. However, the proceeds will be used for working capital and corporate purposes, which could strengthen the company's financial position in the long term.
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