Why Panbela Therapeutics (PBLA) Stock Is Nosediving
Portfolio Pulse from Henry Khederian
Panbela Therapeutics Inc's shares are trading lower by 26% after the company announced agreements with certain warrant holders to exercise these for 2.13 million shares at a reduced price. This will result in approximately $1.9 million in gross proceeds, excluding financial advisory fees. The reduction in exercise price and issuance of new warrants comply with Nasdaq rules.
November 03, 2023 | 1:55 pm
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Panbela Therapeutics' stock price is falling due to the company's decision to allow warrant holders to exercise their warrants at a reduced price, resulting in a dilution of shares.
The company's decision to allow warrant holders to exercise their warrants at a reduced price has led to a dilution of shares. This has negatively impacted the stock price as it increases the supply of shares in the market, thereby reducing their value.
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