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PRTG - Portage Biotech shares plunge on $23M equity raise
Portage Biotech Inc.
Portage Biotech (PRTG) shares slide 28.5% premarket on pricing public offering of 1M ordinary shares at $23 per share.Underwriters' over-allotment is an additional 150K ordinary shares.Offering is expected to close on June 28, 2021. Proceeds will be used for the acceleration of its PORT-2 and PORT-3 clinical programs, to prepare the next products to enter the clinic, and for working capital and other general corporate purposes.