LIXT - LIXTE Biotechnology falls after company launches $3.5M registered direct offering of shares

2023-07-18 08:23:22 ET

• LIXTE Biotechnology Holdings ( NASDAQ: LIXT ) fell ~26% Tuesday pre-market after the drug discovery company said it has launched a $3.5M registered direct offering of shares.
• The company has entered into a securities purchase agreement with a single healthcare-focused institutional investor for the issuance of 583,334 shares.
• The company will also issue warrants to purchase up to 583,334 shares at $6.00 per share in a concurrent private placement priced at-the-market under Nasdaq rules.
• The offering is expected to close on or about July 20.
• Source: Press Release

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