CNS Pharmaceuticals Announces Pricing of Registered Direct Offering and Concurrent Private Placement of 568K Shares At $2.45/Share
Portfolio Pulse from Benzinga Newsdesk
CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) announced a registered direct offering and concurrent private placement of 568,000 shares at $2.45 per share, expected to close on June 27, 2024. The gross proceeds are anticipated to be approximately $1.39 million.
June 26, 2024 | 12:04 pm
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CNS Pharmaceuticals announced a registered direct offering and concurrent private placement of 568,000 shares at $2.45 per share, expected to close on June 27, 2024. The gross proceeds are anticipated to be approximately $1.39 million.
The announcement of a direct offering and private placement typically leads to a short-term decrease in stock price due to dilution concerns. However, the funds raised will support working capital and corporate purposes, which could be beneficial in the long term.
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