QNRX - Why Quoin Pharmaceuticals (QNRX) Shares Are Nosediving | Benzinga

Quoin Pharmaceuticals Ltd – ADR (NASDAQ:QNRX) shares are trading lower by 46.9% to $1.54 during Tuesday’s session after the company announced the pricing of a $6.5 million public offering.

The offering consists of ordinary shares, pre-funded warrants, and warrants to purchase additional shares at a combined price of $1.60 per American Depositary Share. The offering includes Series D warrants exercisable immediately and expiring in two years, and Series E warrants expiring in five years.

The closing is expected around March 7, with A.G.P./Alliance Global Partners serving as the sole placement agent. The net proceeds will be utilized for general corporate purposes.

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