Why Aditxt Shares Are Getting Obliterated

Aditxt Inc ADTX shares are trading lower by 57.36% to $4.52 Friday afternoon after the company priced its $20 million public offering at $6 per share.

What Else?

The closing of the offering is expected to occur on or about September 20th, subject to the satisfaction of customary closing conditions.

The company intends to use the net proceeds from this offering for general corporate purposes, which may include research and development expenses, capital expenditures, working capital and general and administrative expenses, and potential acquisitions of or investments in businesses, products and technologies that complement our business. Although the Company has no present commitments or agreements to make any such acquisitions or investments.

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According to data from Benzinga Pro, Aditxt has a 52-week high of $29.48 and a 52-week low of $4.30.