Sonnet BioTherapeutics Announces Pricing of $5.0 Million Underwritten Public Offering Priced At-The-Market Under Nasdaq Rules
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Sonnet BioTherapeutics announced a $5 million underwritten public offering, selling shares and warrants at $4.50 each, under Nasdaq rules. The offering is expected to close on November 7, 2024.
November 06, 2024 | 6:30 pm
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Sonnet BioTherapeutics is conducting a $5 million public offering, selling shares and warrants at $4.50 each. This could lead to stock price volatility as the market reacts to the dilution and potential future capital influx.
The public offering introduces new shares and warrants, which can dilute existing shareholders' value. The market may react negatively in the short term due to this dilution, despite the potential for future capital influx.
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