eFFECTOR Therapeutics Announces $15M Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
eFFECTOR Therapeutics, Inc. (NASDAQ:EFTR) announced a registered direct offering priced at-the-market under Nasdaq rules, aiming to raise $15 million. The offering includes 1,488,834 shares and equal warrants with an exercise price of $9.95, expiring in three and a half years. H.C. Wainwright & Co. is the exclusive placement agent. The proceeds will fund general corporate activities and R&D. The offering is expected to close on January 29, 2024.
January 25, 2024 | 1:11 pm
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eFFECTOR Therapeutics is raising $15M through a direct offering of shares and warrants, which may dilute current shareholders but provide necessary capital for R&D and corporate purposes.
The direct offering is likely to have a short-term negative impact on EFTR's stock price due to potential dilution of existing shares. However, the capital raised is crucial for the company's R&D and may benefit the company in the long term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100