Soligenix prices stock and warrants offering to raise $8.5M, shares down nearly 50%
Soligenix (NASDAQ:SNGX) on Friday priced the public offering of common stock and warrants to raise about $8.5 million.
The company priced the offering of 6,538,500 shares and warrants to purchase up to 6,538,500 shares at a combined price of $1.30 per share and accompanying warrant.
The warrants will have an exercise price of $1.50 per share, will be exercisable immediately and will expire five years from the issuance date.
The company intends to use the proceeds to fund its research and development and commercialization activities and for general corporate and working capital purposes.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
Shares -48.5% at $1.18.