Tonix Pharmaceuticals Prices $4M Public Offering Of 3,753,558 Shares Of Common Stock At $1.065/Share
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has announced a public offering of 3,753,558 shares of common stock at a price of $1.065 per share, raising $4 million.
June 12, 2024 | 1:04 pm
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Tonix Pharmaceuticals has priced a public offering of 3,753,558 shares at $1.065 per share, raising $4 million. This could lead to short-term downward pressure on the stock price due to dilution.
The issuance of new shares typically leads to dilution of existing shares, which can result in a decrease in the stock price in the short term. The offering price of $1.065 per share is also close to the current market price, indicating limited immediate upside.
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