NEXGEL Announces $1.1M Registered Direct Offering Of 444K Of Its Shares Of Common Stock And The Issuance Of Warrants To Purchase Up To An Aggregate Of 222K Shares Of Stock For A Combined Offering Purchase Price Of $2.50 Per Share
Portfolio Pulse from Benzinga Newsdesk
NEXGEL, Inc. (NASDAQ:NXGL) announced a $1.1M registered direct offering of 444,000 shares of common stock and warrants to purchase up to 222,000 shares at a combined price of $2.50 per share. The warrants have an exercise price of $4.25 and a five-year term. Insiders participated and are subject to a six-month lock-up period.
August 12, 2024 | 1:01 pm
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NEXGEL announced a $1.1M registered direct offering of 444,000 shares and warrants for 222,000 shares at $2.50 per share. The offering includes insider participation with a six-month lock-up period.
The issuance of new shares and warrants typically dilutes existing shareholders, which can lead to a short-term decrease in stock price. However, insider participation and the lock-up period may mitigate some negative sentiment.
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