Checkpoint Therapeutics Announces $12M Registered Direct Offering Of 5,853,659 Shares Of Its Common Stock At A Purchase Price Of $2.05 Per Share Priced At-The-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Checkpoint Therapeutics (NASDAQ: CKPT) announced a $12M registered direct offering of 5,853,659 shares at $2.05 per share. The offering includes unregistered warrants for an additional 5,853,659 shares. The proceeds will be used for working capital and general corporate purposes.
July 02, 2024 | 12:12 pm
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Checkpoint Therapeutics announced a $12M registered direct offering of 5,853,659 shares at $2.05 per share, including unregistered warrants for an additional 5,853,659 shares. The proceeds will be used for working capital and general corporate purposes.
The issuance of new shares and warrants typically dilutes existing shareholders, which can lead to a short-term decrease in stock price. However, the funds raised will support the company's operations, which could be beneficial in the long term.
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