Here's Why Palisade Bio Stock Is Getting Hammered Today

Palisade Bio Inc PALI shares are trading lower by 34.18% to $0.22 Friday morning after the company announced the pricing of a public offering for gross proceeds valued at approximately $12 million.

The closing of the offering is expected to take place on or about August 16th, subject to the satisfaction or waiver of customary closing conditions.

Palisade Bio has also granted the underwriter a 45-day option to purchase up to 7,200,000 additional shares of common stock, additional Series 1 Warrants to purchase up to 7,200,000 shares of common stock and/or additional Series 2 Warrants to purchase up to 7,200,000 shares of common stock, solely to cover over-allotments, if any, at the public offering price per share of common stock, Series 1 Warrant and Series 2 Warrant, less the underwriting discounts and commissions.

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According to data from Benzinga Pro, Certara has a 52-week high of $45.48 and a 52-week low of $16.18.