Alzamend Neuro Announces Termination Of At-The-Market Equity Offering Program
Portfolio Pulse from Benzinga Newsdesk
Alzamend Neuro, Inc. (NASDAQ:ALZN) has announced the termination of its at-the-market equity offering program to avoid uncertainty and unfavorable dilution for its stockholders. The program, in partnership with Ascendiant Capital Markets, LLC, will officially end on May 16, 2024, with no further sales of common stock. Through this program, Alzamend raised approximately $1.3 million by selling 1,076,821 shares at an average price of $1.20 per share.
May 07, 2024 | 12:20 pm
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Alzamend Neuro terminates its at-the-market equity offering program to prevent stockholder dilution, having raised $1.3M from selling over 1M shares.
Terminating the at-the-market equity offering program is likely to be viewed positively by investors as it shows the company's commitment to preventing stock dilution and managing its capital more effectively. This decision could lead to a short-term positive sentiment among investors, potentially increasing the stock price.
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