Bio-Path Holdings Announces $1.2M Registered Direct Offering With Some Institutional Investors For Sale Of 375,000 Shares Of Its Common Stock At Price Of $3.225/Share
Portfolio Pulse from Benzinga Newsdesk
Bio-Path Holdings, Inc. (NASDAQ:BPTH) announced a registered direct offering and concurrent private placement to institutional investors, selling 375,000 shares at $3.225 each, and issuing warrants for an additional 375,000 shares at $3.10 each. The transactions will increase the outstanding shares from 1,190,306 to 1,565,306, with H.C. Wainwright & Co., LLC as the placement agent. The offering is expected to close on April 19, 2024.
April 18, 2024 | 6:01 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Bio-Path Holdings, Inc. is raising $1.2M through a direct offering and private placement, increasing its outstanding shares to 1,565,306.
The direct offering and issuance of warrants by Bio-Path Holdings could lead to dilution of existing shares, potentially causing a short-term negative impact on the stock price. The increase in outstanding shares from 1,190,306 to 1,565,306 represents a significant dilution. However, the funds raised could support the company's growth and development projects, which might have a positive long-term effect.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100