Chemomab Therapeutics Announces Private Placement Of $10M
Portfolio Pulse from Benzinga Newsdesk
Chemomab Therapeutics has announced a private placement of $10 million, selling 4,188,867 American Depositary Shares (ADSs) and pre-funded warrants to purchase up to 3,908,300 ADSs. The purchase price is $1.235 per share, reflecting the average share price on Nasdaq for the last 4 trading days. The private placement is expected to close around July 26, 2024, subject to customary closing conditions.
July 25, 2024 | 11:47 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Chemomab Therapeutics is raising $10 million through a private placement, selling ADSs and pre-funded warrants at $1.235 per share. The transaction is expected to close by July 26, 2024.
The private placement will provide Chemomab Therapeutics with additional capital, which could be used for further development and operations. The pricing at $1.235 per share, reflecting the average share price on Nasdaq, suggests a fair valuation. The expected closing date provides a timeline for investors to anticipate the impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100