Why Azitra (AZTR) Shares Are Down 67%

Azitra Inc AZTR shares are trading lower by 67.8% to $0.28 Wednesday morning after the company priced an underwritten public offering of 16.667 million shares of common stock at $0.30 per share, totaling approximately $5 million in gross proceeds.

The offering, which is solely by the company, includes an option for underwriters to purchase up to an additional 2.5 million shares. The net proceeds will be allocated towards clinical trials, product development, research and development, clinical manufacturing and general corporate purposes.

The offering is expected to close on February 16, with ThinkEquity serving as the sole book-running manager.

See Also: Bitcoin Traders Eye $64K Target As Blackrock’s ETF Rakes In $500M In A Day

How To Buy AZTR Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in AZTR’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, AZTR has a 52-week high of $5.18 and a 52-week low of $0.81.