BriaCell Therapeutics Announces Pricing Of $5M Registered Direct Offering Of 2,402,935 Common Shares And Warrants Of The Company At A Combined Purchase Price Of $2/Share
Portfolio Pulse from Benzinga Newsdesk
BriaCell Therapeutics Corp. (NASDAQ:BCTX) has announced a $5 million registered direct offering of 2,402,935 common shares and warrants at a combined purchase price of $2 per share. The offering includes securities purchase agreements with healthcare-focused institutional investors and an existing investor and director of the company. The warrants have an exercise price of $2.11 per share and will become exercisable six months from issuance, expiring five years from the initial exercise date. The closing is expected around May 17, 2024, subject to customary conditions.
May 15, 2024 | 12:16 pm
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BriaCell Therapeutics has announced a $5 million direct offering of shares and warrants, which may lead to short-term dilution of existing shares. The offering price is set at $2 per share, with warrants exercisable at $2.11 per share in six months.
The direct offering at $2 per share could lead to short-term dilution of existing shares, potentially putting downward pressure on the stock price. The exercise price of the warrants is slightly above the offering price, which may also affect investor sentiment.
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