Nuwellis Announces Pricing Of $2M Offering Of 469,340 Shares Of Common Stock At A Price Of $4.24 Per Share, Priced At-The-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Nuwellis, Inc. (NASDAQ:NUWE) announced a $2M offering of 469,340 shares of common stock at $4.24 per share, priced at-the-market under Nasdaq rules. Additionally, the company will issue warrants to purchase up to 938,680 shares at $3.99 per share in a concurrent private placement. The closing is expected around July 25, 2024.
July 24, 2024 | 12:11 pm
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Nuwellis, Inc. announced a $2M offering of 469,340 shares at $4.24 per share and warrants for 938,680 shares at $3.99 per share. The offering is priced at-the-market under Nasdaq rules and is expected to close around July 25, 2024.
The announcement of a stock offering typically leads to a short-term decrease in stock price due to dilution concerns. The issuance of warrants further adds to potential dilution. However, the funds raised could be beneficial for the company's operations in the long term.
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