Why Lexaria Bioscience (LEXX) Shares Are Moving

Lexaria Bioscience Corp LEXX shares are trading lower by 6.5% to $2.43 Thursday morning after the company finalized agreements for a registered direct offering of 1,558,443 shares of common stock at $2.31 per share.

Additionally, the company will conduct a concurrent private placement, issuing unregistered warrants for the purchase of up to 1,558,443 shares of common stock at an exercise price of $2.185 per share. The offering is expected to close around February 16.

H.C. Wainwright & Co. is serving as the exclusive placement agent. The gross proceeds are estimated to be approximately $3.6 million, which will be utilized for research and development studies, patent expenses, and general working capital.

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How To Buy LEXX 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 Lexaria Bioscience 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, LEXX has a 52-week high of $3.60 and a 52-week low of $0.65.