Tonix Pharmaceuticals Prices ~$4M Public Offering Of 7,060,918 Shares At $0.57/Share
Portfolio Pulse from Benzinga Newsdesk
Tonix Pharmaceuticals has announced a public offering of approximately $4 million, selling 7,060,918 shares at $0.57 per share.
June 27, 2024 | 12:37 pm
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Tonix Pharmaceuticals has priced a public offering of around $4 million, issuing 7,060,918 shares at $0.57 per share. This move is likely to dilute existing shares and could put downward pressure on the stock price in the short term.
The issuance of new shares at a price lower than the current market price typically leads to dilution of existing shares, which can result in a decrease in the stock price. The offering size and price point suggest significant dilution, making a short-term negative impact likely.
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