Quoin Pharmaceuticals Announces Pricing Of $6.5M Public Offering
Portfolio Pulse from Benzinga Newsdesk
Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX) announced a public offering priced at $6.5M, involving 4,062,500 ordinary shares represented by American Depositary Shares and Series D and E warrants. The offering, managed by A.G.P./Alliance Global Partners as the sole placement agent, aims to raise funds for general corporate purposes, with a closing date expected around March 7, 2024.
March 05, 2024 | 1:02 pm
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Quoin Pharmaceuticals Ltd. announces a $6.5M public offering, aiming to fund general corporate purposes with a closing expected by March 7, 2024.
Public offerings often lead to short-term price volatility due to the dilution of shares. However, the funds raised can be beneficial for long-term growth, especially for a specialty pharmaceutical company like Quoin focusing on rare and orphan diseases. The impact on QNRX's stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100