Tyme Technologies Shares Dive On $100M Equity Offering

by Vandana Singh, Benzinga Editor

February 4, 2021 6:05 AM | 1 min read | Make a Comment

Tyme Technologies Inc (NASDAQ: TYME) has announced the sale of 40 million shares at $2.50 per share in the registered direct offering, with gross proceeds of $100 million. The offering is expected to close by February 8. TYME's closing price as of Wednesday was $3.53.
Net proceeds will be used to develop the company's clinical and preclinical assets, general corporate purposes, capital expenditures, acquisitions, working capital, and general and administrative expenses.
Price Action: TYME shares were trading 26.6% lower at $2.59 in the premarket session on the last check Thursday.

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