Synaptogenix Enters Into Securities Purchase Agreements For A $5M Financing With Existing Investors Involving The Sale Of 5,000 Shares Of Its Newly Issued Series C Convertible Preferred Stock, With A Stated Value Of $1,000 Per Share; The Shares Of Series C Preferred Stock Have An Initial Conversion Price Of $4.00 Per Share And Accrue A 5.0% Quarterly Dividend Payable In Cash
Portfolio Pulse from Benzinga Newsdesk
Synaptogenix, Inc. (NASDAQ:SNPX) has announced a $5 million financing deal with existing investors through the sale of Series C convertible preferred stock. The stock has a conversion price of $4.00 per share and a 5% quarterly dividend. The offering is expected to close by September 12, 2024.
September 11, 2024 | 1:07 pm
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Synaptogenix has secured $5 million in financing through the sale of Series C convertible preferred stock, which includes a 5% quarterly dividend. This move could provide the company with necessary capital for its operations and development of therapeutics for neurodegenerative disorders.
The $5 million financing deal provides Synaptogenix with additional capital, which is crucial for its ongoing development of therapeutics. The 5% quarterly dividend makes the preferred stock attractive to investors, potentially boosting investor confidence and stock price.
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