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home / articles / PPBT - Why Purple Biotech (PPBT) Shares Are Trading Lower | Benzinga

PPBT - Why Purple Biotech (PPBT) Shares Are Trading Lower | Benzinga

Purple Biotech Ltd ADR (Sponsored) Level 3

Purple Biotech Ltd – ADR (NASDAQ:PPBT) shares are trading lower by 11.5% to $0.37 during Monday’s session after the company announced the exercise of warrants for $2 million gross proceeds.

What Happened?

Purple Biotech has entered into agreements for the exercise of existing warrants to purchase 5,633,509 American Depositary Shares (ADSs) at a reduced price of $0.36 per ADS, down from their original prices of $1.25 to $20.00 per ADS. This move involves warrants originally issued in October 2023, June 2020, January 2019, and June 2018. The offering, expected to close around July 2, is facilitated by H.C. Wainwright ...

PPBT) Shares Are Trading Lower>Full story available on Benzinga.com
Stock Information
Company Name: Purple Biotech Ltd ADR (Sponsored) Level 3
Stock Symbol: PPBT
Market: NASDAQ
Website: kitovpharma.com
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