Salarius Pharmaceuticals Inc. (NASDAQ: SLRX) shares rose 23.65% in after-hours trading on Tuesday, closing at $1.21. The Houston-based biopharmaceutical business’s stock leapt after it launched prices information for its underwritten public offering.
Take a look at the existing rate of SLRX stock here.
According to Benzinga Pro information, the stock dropped 51% in the routine trading session to close Tuesday at $0.98.
$ 7 Million Offering Particulars
Salarius mentioned in a news release on Tuesday that it priced an underwritten public offering with the objective of raising approximately $7 million in gross profits before costs.
The offering consists of 2.51 million typical stock shares and pre-funded warrants to acquire 2.15 million shares at a combined offering rate of $1.50 per show accompanying Series A and Series B warrants.
Warrant Structure and Terms
The workout rate for both warrant series is $1.50. Series B warrants have a 1 year workout window, whereas Series A warrants are exercisable for 5 years after issuance. The filing specifies that the warrants have actually repaired prices without any variable prices functions.
Merger-Contingent Closing
The conclusion of Salarius’ proposed organization mix with Decoy Therapies Inc., a preclinical-stage biotechnology business, is a requirement for the offering’s closing, which is expected on Wednesday.
Ladenburg Thalmann & & Co. Inc. functions as the sole book-running supervisor.
Salarius prepares to utilize the profits to money research study programs, pay back Decoy’s promissory notes, and cover operating capital requirements.
Stock Efficiency
The stock of the clinical-stage business is down 96.25% year to date.
The business has a market capitalization of $1.03 million and a typical everyday trading volume of 318,090 shares.
Benzinga Edge Stock Rankings show that SLRX has an unfavorable rate pattern throughout perpetuity frames. Track the efficiency of other gamers in this sector.
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Disclaimer: This material was partly produced with the aid of AI tools and was examined and released by Benzinga editors.