Why it fell 58.52% today
- Aditxt (ADTX) stock price fell 58.52% today. That is why.
Aditxt (ADTX) stock price fell 58.52% today.
Why: Aditxt – a biotech innovation company developing and commercializing technologies focused on monitoring and modulating the immune system – announced the price for a public offering of 3,333,333 shares of common stock, plus warrants to buy up to 3,333,333 common shares at a combined public offering price of $6.00 per share (or the common share equivalent) and the associated warrants. The warrants will have an exercise price of $6.00 per share, are exercisable upon issuance and will expire 5 years from the date of issuance. The offering is expected to close on or about September 20, 2022, subject to the satisfaction of customary closing conditions.
Gross product: The gross proceeds of the offering to the Company are expected to be approximately $20 million, before deducting placement agent fees and other offering costs payable by the Company. And the company plans to use the net proceeds from this offering for general corporate purposes, which may include research and development expenses, capital expenses, working capital, and general and administrative expenses, as well as potential acquisitions or investments in businesses, products and technologies that complement our business, although the company has no current commitments or agreements to make such acquisitions or investments.
Placement Officer: HC Wainwright & Co. is acting as the exclusive placement agent for the offering.