Sonoma Pharmaceuticals, Inc. Announces Pricing Of $1.7M Public Offering Of 8.5M Shares Of Common Stock At A Price Of $0.20 Per Share
Portfolio Pulse from Benzinga Newsdesk
Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) has announced the pricing of its public offering of 8.5 million shares of common stock at $0.20 per share. The gross proceeds are expected to be approximately $1.7 million, before deducting placement agent fees and commissions and estimated offering expenses. The offering is expected to close on October 30, 2023.
October 26, 2023 | 1:21 pm
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Sonoma Pharmaceuticals' public offering of 8.5 million shares could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a decrease in stock price. Given the size of the offering (8.5 million shares), this could have a significant impact on SNOA's stock price in the short term.
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