Protagenic Therapeutics Announces Pricing Of $1.275M Private Placement For The Purchase And Sale Of An Aggregate Of 1,948,295 Shares Of Common Stock; The Purchase Price Of Each Share Of Common Stock And Associated Common Stock Purchase Warrants Will Be $0.64
Portfolio Pulse from Benzinga Newsdesk
Protagenic Therapeutics, Inc. (NASDAQ:PTIX) has announced a $1.275 million private placement for the sale of 1,948,295 shares of common stock and associated warrants at $0.64 per share. The proceeds will be used for working capital, with the offering expected to close by November 4, 2024.
October 29, 2024 | 2:29 pm
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Protagenic Therapeutics is conducting a $1.275 million private placement, selling 1,948,295 shares and warrants at $0.64 each. The funds will be used for working capital, with the offering closing by November 4, 2024.
The private placement indicates a capital raise which can be positive for the company's liquidity and operational capabilities. The set price of $0.64 per share may influence short-term stock price movements, especially if the market perceives the capital raise as a positive step for the company's growth.
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