Sonnet BioTherapeutics Announces Pricing Of $4.55M Underwritten Public Offering
Portfolio Pulse from Benzinga Newsdesk
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) has announced the pricing of an underwritten public offering of 2,843,750 shares of common stock and investor warrants to purchase up to an aggregate of 5,687,500 shares of common stock. The combined offering price is $1.60, for total gross proceeds of approximately $4.55 million. The offering is expected to close on October 27, 2023. The net proceeds will be used for research and development, including clinical trials, working capital and general corporate purposes.
October 25, 2023 | 12:02 pm
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Sonnet BioTherapeutics is raising capital through a public offering. The proceeds will be used for R&D, clinical trials, and corporate purposes, which could potentially enhance the company's future prospects.
The public offering will provide Sonnet BioTherapeutics with additional capital, which will be used for research and development, including clinical trials. This could potentially lead to the development of new products or improvements in existing ones, which could enhance the company's future prospects and potentially have a positive impact on its stock price.
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