IMUNON Announces $10M Registered Direct Offering Of 5M Shares Of Common Stock, With Unregistered Warrants At A Price Of $2/Unit
Portfolio Pulse from Benzinga Newsdesk
IMUNON, Inc. (NASDAQ:IMNN) announced a $10 million registered direct offering of 5 million shares of common stock at $2 per unit, including unregistered warrants. The offering is expected to close around August 1, 2024, with H.C. Wainwright & Co. as the lead placement agent.
July 31, 2024 | 12:15 pm
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IMUNON, Inc. announced a $10 million registered direct offering of 5 million shares of common stock at $2 per unit, including unregistered warrants. The offering is expected to close around August 1, 2024, with H.C. Wainwright & Co. as the lead placement agent.
The announcement of a direct offering typically leads to a short-term decrease in stock price due to dilution concerns. The offering price of $2 per unit may also set a near-term price ceiling.
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