Why BioRestorative Therapies (BRTX) Stock Is Down 55%
Portfolio Pulse from Henry Khederian
BioRestorative Therapies, Inc. (BRTX) stock plummeted by 55% to $1.56 following an announcement of agreements with certain warrant holders to exercise their warrants at a reduced price of $2.33, generating about $8.1 million in gross proceeds. The transaction, advised by Roth Capital Partners, was structured as an at-market transaction under Nasdaq rules.
February 06, 2024 | 3:23 pm
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BioRestorative Therapies' stock fell sharply after the company announced a warrant exercise agreement at a reduced price, aiming to raise $8.1 million.
The sharp decline in BRTX's stock price is directly related to the announcement of the warrant exercise agreement at a reduced price. This move, while generating significant gross proceeds for the company, likely raised concerns among investors about potential dilution of their holdings, leading to the stock's significant drop.
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