Cardiol Therapeutics Announces Pricing Of $13.5M Public Offering Of 8,437,500 Common Shares At A Price Of $1.60/Share
Portfolio Pulse from Benzinga Newsdesk
Cardiol Therapeutics has announced a public offering of 8,437,500 common shares at $1.60 per share, raising $13.5 million. The proceeds will support the clinical development of CardiolRx and cover general expenses.
October 09, 2024 | 12:03 pm
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Cardiol Therapeutics is raising $13.5 million through a public offering of common shares at $1.60 each. The funds will be used for the development of CardiolRx and other expenses.
The public offering at $1.60 per share may lead to short-term downward pressure on CRDL's stock price due to dilution. However, the funds raised will support the development of CardiolRx, which could be positive in the long term.
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