APVO - Aptevo Therapeutics down 25% after pricing $5M offering
2023-08-02 05:35:42 ET
Aptevo Therapeutics ( NASDAQ: APVO ) stock price dropped 25% as the company entered agreements with healthcare-focused institutional investors for the purchase and sale of ~8M shares at a purchase price of $0.62 per share.
The company further agreed to issue to the investors Series A Warrants to purchase up to an aggregate of 8,064,517 shares and Series B Warrants to purchase up to an aggregate of 8,064,517 shares.
The closing is expected to occur on or about August 4, 2023.
Gross proceeds from the offering are expected to be ~$5M.
Net proceeds will be deployed to working capital purposes.
For further details see:
Aptevo Therapeutics down 25% after pricing $5M offering