- Timber Pharmaceuticals ( NYSE: TMBR ) priced its public offering of 66.67M shares and warrants at an offering price to the public of $0.12/share and associated warrant.
- The warrants will have an exercise price of $0.12/share, are exercisable immediately on issuance and will expire five years from issuance date.
- Offer closing is expected to occur on or about Aug.8, 2022.
- Gross proceeds are expected to be ~$8M; net proceeds to be used for research and development, including clinical trials, working capital and general corporate purposes.
- Shares slumped 36.9% in premarket.
For further details see:
Timber Pharmaceuticals plunges on pricing $8M in stock offering