Tonix Pharmaceuticals Prices $4.5M Public Offering 9M Common Shares And Warrants At $0.50/Share
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has priced a public offering of 9 million common shares and warrants at $0.50 per share. The offering includes Series A and Series B warrants, exercisable immediately, with an exercise price of $0.50 per share. The closing of the public offering is expected on October 3, 2023.
September 29, 2023 | 7:03 am
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Tonix Pharmaceuticals' public offering of 9 million shares and warrants could dilute existing shareholders' equity, potentially impacting the stock price.
The public offering of 9 million shares and warrants by Tonix Pharmaceuticals could lead to dilution of existing shareholders' equity. This could put downward pressure on the stock price in the short term as the market absorbs the additional shares. However, the funds raised could be used for growth initiatives, which could have a positive impact in the long term.
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