Aditxt Stock Plunges After Capital Raise Of $17M Via Equity

Aditxt Inc ADTX has priced an underwritten public offering of 16.575 million units, consisting of common shares and warrants to purchase up to 16.575 million shares at $1.05 per unit for gross proceeds of $17.4 million.

• The warrants permit the holder to purchase one share at an exercise price of $1.15 per share and expire five years after the date of issuance.
• The underwriter has an option to purchase up to 2.5 million shares and/or warrants to purchase up to 2.5 million shares. 
• The offering will close by December 3.
• Dawson James Securities, Inc. is acting as sole book-running manager for the offering.
• Related Link: Aditxt Acquisition-Partner's At-Home COVID-19 Drug Fails In Late-Stage Trial.
• Aditxt plans to use the proceeds to fund additional borrowings under the Secured Credit Agreement with AiPharma Global and for general corporate and working capital purposes.
• Price Action: ADTX shares are down 25.3% at $0.87 during the market session on the last check Wednesday.