Purple Biotech Exercises Warrants For $2M Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Purple Biotech Ltd. (NASDAQ/TASE: PPBT) has entered into agreements for the exercise of existing warrants to purchase 5,633,509 American Depositary Shares (ADSs) at a reduced exercise price of $0.36 per ADS, generating $2 million in gross proceeds. The offering is expected to close on or about July 2, 2024, with H.C. Wainwright & Co. acting as the exclusive placement agent.
July 01, 2024 | 1:09 pm
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Purple Biotech has exercised warrants to purchase 5,633,509 ADSs at a reduced price of $0.36 per ADS, generating $2 million in gross proceeds. The offering is expected to close by July 2, 2024.
The exercise of warrants at a reduced price and the resulting $2 million in gross proceeds is a positive development for Purple Biotech, providing additional capital for its operations. The reduced exercise price may also attract more investors, potentially boosting the stock price in the short term.
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