Aditxt shares are trading lower after the company announced a $6 million private placement of 1,237,114 shares of common stock at a purchase price of $4.85 per share. The company regained compliance with the Nasdaq Stockholders' equity requirement.
Portfolio Pulse from Benzinga Newsdesk
Aditxt, Inc. (ADTX) announced a private placement of 1,237,114 shares at $4.85 per share, raising $6 million. This move has helped the company regain compliance with Nasdaq's Stockholders' equity requirement, but the stock is trading lower following the announcement.
January 02, 2024 | 4:24 pm
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Aditxt's stock is trading lower due to the dilutive effect of the private placement of over 1.2 million shares, despite regaining Nasdaq compliance.
The announcement of a private placement typically leads to a decrease in stock price due to dilution of existing shares. Although regaining Nasdaq compliance is positive, the immediate impact of dilution is likely to outweigh this in the short term.
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