Avenue Therapeutics Announces Pricing Of $5M Public Offering
Portfolio Pulse from Benzinga Newsdesk
Avenue Therapeutics, Inc. (NASDAQ:ATXI) has announced the pricing of its public offering of 16,633,400 units at $0.3006 per unit, expected to generate approximately $5.0 million in gross proceeds. The offering includes shares of common stock, Series A and B warrants. The closing of the offering is expected to occur on November 2, 2023.
October 31, 2023 | 1:20 pm
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Avenue Therapeutics' public offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price. However, the raised capital could be used for business expansion, which may have a positive long-term impact.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a short-term decrease in stock price. However, the capital raised from the offering could be used for business expansion, potentially leading to long-term growth.
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IMPORTANCE 75
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