Why Biodexa Pharmaceuticals (BDRX) Shares Are Getting Hammered

Zinger Key Points
  • Biodexa Pharmaceuticals disclosed the pricing of a public offering.
  • The offering's closing is anticipated around December 21.

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.

See Also: Nasdaq, S&P 500 Futures Bounce Higher As Santa Claus Rally Awaits

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

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