- Palisade Bio ( NASDAQ: PALI ) shares dropped over -34% pre-market on Friday after the biopharmaceutical company priced its ~$12M securities offering .
- The offering consists of 42.16M shares of common stock, 1,460 shares of Series B convertible preferred stock, 48M Series 1 warrants with a one-year term and another 48M Series 2 warrants with a five-year term.
- The common stock, Series 1 and Series 2 warrants are priced at $0.25 per share. The price per share of the Series B convertible stock, Series 1 warrant to purchase 4,000 common shares and Series 2 warrant to purchase 4,000 shares is $1,000.00.
- The underwriter has a 45-day option to purchase up to 7.2M additional common shares, additional Series 1 warrants and/or Series 2 warrants to purchase up to 7.2M shares to cover over-allotments.
- The offering will close on or about August 16, 2022.
For further details see:
Palisade Bio stock slides pre-market after pricing $12M securities offering