Why Biodexa Pharmaceuticals (BDRX) Shares Are Getting Hammered

Biodexa Pharmaceuticals PLC-ADR BDRX shares are trading lower by 31.7% to $2.07 Tuesday morning after the company disclosed the pricing of a public offering. The offering includes two types of units:

• Class A Units: 697,614 units offered at $2.00 each, consisting of one Depositary Share (representing 400 Ordinary Shares), one Series E Warrant (exercise price: $2.20, expiring in five years) and one Series F Warrant (exercise price: $2.20, expiring in one year).
• Class B Units: 1,911,176 units offered at $1.9999 each, including one pre-funded warrant (exercise price: $0.0001), one Series E Warrant and one Series F Warrant (same terms as in Class A).

The securities within the units can be issued separately, and the offering's closing is anticipated around December 21, pending standard closing conditions.

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According to data from Benzinga Pro, BDRX has a 52-week high of $361.60 and a 52-week low of $2.26.