ImmunoTech Announces Pricing Of 5,640,958 Share Registered Direct Offering At $0.363 Per Share; Gross Proceeds ~$2M
Portfolio Pulse from Benzinga Newsdesk
ImmunoTech has announced the pricing of a registered direct offering of 5,640,958 shares at $0.363 per share, aiming to raise approximately $2 million in gross proceeds.
May 31, 2024 | 12:33 pm
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ImmunoTech's registered direct offering of 5,640,958 shares at $0.363 per share is expected to raise approximately $2 million in gross proceeds. This move could lead to short-term dilution of existing shares, potentially impacting the stock price negatively.
The issuance of new shares at a price lower than the current market price can lead to dilution of existing shares, which often results in a short-term decrease in stock price. The raised funds, however, could be used for growth initiatives, which might benefit the company in the long term.
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