Aridis Pharmaceuticals Inc ARDS shares are trading lower by 23.34% to $0.42 Tuesday morning after the company announced a $2.28 million registered direct offering.
The company has entered a definitive agreement for the issuance and sale of an aggregate of 6 million shares of the company's common stock at a purchase price of $0.38 per share.
See Also: Why BuzzFeed (BZFD) Stock Is Falling Today
Aridis Pharmaceuticals currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
According to data from Benzinga Pro, ARDS has a 52-week high of $2.77 and a 52-week low of $0.35.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
