TENX - Tenax therapeutics announces $8M PIPE offering

Tenax Therapeutics (NASDAQ:TENX) enters into a agreement with a single institutional investor for the issuance and sale of 10,596,027 units at a purchase price of $0.755/unit. Each Unit consists of one unregistered pre-funded warrant to purchase one share of the Company’s common stock, par value $0.0001, and one unregistered warrant to purchase one share of the Company’s common stock. In the aggregate, 21,192,054 shares of the Company’s common stock are underlying the warrants. The unregistered pre-funded warrants have an exercise price of $0.0001 per share of common stock; the five and one-half years unregistered warrants have an exercise price of $0.63 per share of common stock. The aggregate gross proceeds are expected to be ~$8M;to be used to further its clinical trials of levosimendan and imatinib, for research and development and for general corporate purposes, including working capital. The offering is expected to close on or about May 19, 2022. The

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Tenax therapeutics announces $8M PIPE offering