Lipella Pharmaceuticals Announces $1.28M Registered Direct Offering Of 2,066,000 Shares Of Common Stock (Or Pre-funded Warrants In Lieu Thereof) At A Purchase Price Of $0.62 Per Share
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Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) announced a $1.28 million registered direct offering of 2,066,000 shares of common stock at $0.62 per share. The offering is expected to close on August 1, 2024, with H.C. Wainwright & Co. acting as the exclusive placement agent. The proceeds will be used for working capital and general corporate purposes.
August 01, 2024 | 12:07 pm
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Lipella Pharmaceuticals announced a $1.28 million registered direct offering of 2,066,000 shares at $0.62 per share. The offering is expected to close on August 1, 2024, and the proceeds will be used for working capital and general corporate purposes.
The announcement of a direct offering typically leads to a short-term decrease in stock price due to dilution concerns. However, the funds raised will support the company's working capital and general corporate purposes, which could be beneficial in the long term.
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