Nuwellis Announces $916K Direct Offering And Private Placement, Issuing 496,901 Shares At $1.8450 Per Share And Warrants For An Additional 496,901 Shares With A $1.72 Exercise Price
Portfolio Pulse from Benzinga Newsdesk
Nuwellis has announced a direct offering and private placement, issuing 496,901 shares at $1.8450 per share and warrants for an additional 496,901 shares with a $1.72 exercise price. The closing is expected on August 26, 2024, with proceeds aimed at supporting working capital and corporate purposes.
August 23, 2024 | 1:02 pm
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Nuwellis is conducting a direct offering and private placement, issuing shares and warrants to raise $916K. This move is aimed at bolstering working capital and corporate purposes, with the closing expected in August 2024.
The issuance of new shares and warrants typically leads to stock dilution, which can negatively impact the stock price in the short term. The funds raised are intended for working capital and corporate purposes, which may not immediately translate into increased revenue or profitability.
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