Cadrenal Therapeutics Raises $5.1M Through ATM Facility, Selling 391,243 Shares At An Average Price Of $13.15 Per Share; Total Shares Outstanding Now 1,496,771 With Cash Balance At $7.4M
Portfolio Pulse from Benzinga Newsdesk
Cadrenal Therapeutics has raised $5.1 million through an ATM facility by selling 391,243 shares at an average price of $13.15 per share. The total shares outstanding are now 1,496,771, and the company's cash balance is $7.4 million.
October 24, 2024 | 1:02 pm
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Cadrenal Therapeutics raised $5.1M by selling 391,243 shares at $13.15 each, increasing total shares outstanding to 1,496,771. The cash balance is now $7.4M.
The ATM facility allows Cadrenal Therapeutics to raise capital efficiently, which can be positive for its financial health. However, the increase in shares outstanding may dilute existing shareholders, balancing the impact on the stock price.
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IMPORTANCE 70
RELEVANCE 100