Altamira Therapeutics Ltd CYTO shares are trading lower by 19.23% to $0.44 Thursday morning after the company announced pricing of a $5 million public offering.
The public offering of 11,111,112 common shares (or pre-funded warrants) with accompanying common warrants is priced at 45 cents per share (or pre-funded warrant), and the common warrants have an exercise price of 45 cents per share.
The offering is expected to close on or about July 10, subject to customary closing conditions. H.C. Wainwright & Co. is the exclusive placement agent.
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Gross proceeds will be used for research and development, working capital and general corporate purposes, including potential debt repayment.
According to data from Benzinga Pro, CYTO has a 52-week high of $15.00 and a 52-week low of $0.55.
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