Sunshine Biopharma, Inc. Announces Pricing Of $10M Underwritten Public Offering
Portfolio Pulse from Benzinga Newsdesk
Sunshine Biopharma, Inc. (SBFM) announced a $10M underwritten public offering consisting of shares, Pre-Funded Warrants, and Series A and B Warrants. The offering, managed by Aegis Capital Corp., aims to raise funds for general corporate purposes and working capital. The offering is priced at $0.14 per unit, with an over-allotment option granted to Aegis. It is expected to close by February 15, 2024.
February 13, 2024 | 2:08 pm
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Sunshine Biopharma, Inc. is raising $10M through a public offering of shares and warrants, managed by Aegis Capital Corp., to support its corporate and working capital needs.
The announcement of a public offering can have a mixed impact on a company's stock price. On one hand, it indicates the company is taking steps to raise capital, which can be positive for future growth. On the other hand, the dilution of shares and the low offering price ($0.14 per unit) might concern investors. The net impact in the short term is uncertain, hence a neutral score.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100