BWV - Blue Water Vaccines' stock falls ~15% as certain stockholders plan to offer ~2.4M shares

Blue Water Vaccines' (NASDAQ:BWV) stock slumped pre-market after the company filed a preliminary prospectus notifying that certain stockholders may offer to sell up to ~2.43M common shares (placement shares) of the company. Blue Water noted that it will not receive any proceeds from such sale. The company said the placement shares held by selling stockholders, consists of ~590.41K placement shares, ~70.85K Wainwright warrant shares, ~590.41K prefunded warrant shares, and ~1.18M private investment option shares. BWV -14.73% to $5.50 pre-market May 4

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Blue Water Vaccines' stock falls ~15% as certain stockholders plan to offer ~2.4M shares