PaxMedica Announces Pricing Of $7M Public Offering Of 5,384,615 Shares And Accompanying Warrants At A Price Of $1.30/Unit
Portfolio Pulse from Benzinga Newsdesk
PaxMedica, a biopharmaceutical company, has announced the pricing of its public offering at $1.30 per share, aiming to raise $7 million through the sale of 5,384,615 shares.
November 20, 2023 | 2:24 pm
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PaxMedica's public offering priced at $1.30/share could dilute existing shareholders but provides capital for operations and growth.
The pricing of PaxMedica's public offering is likely to have a short-term negative impact on the stock price due to the dilution of existing shares. However, the capital raised will support the company's operations and potential growth, which could be positive in the long term.
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