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Well, I just grabbed some below $1.10 now, as I think investors panicked a bit too much. The offering price is $1.30/share, will close in 2 days, and I feel that Wainwright has the investors to take the shares. Even after all the shares may be issued, there will only be about 6 million shares outstanding, which will still be a low floater, the company will be funded for awhile, and good biotech NEWS could cause a nice rally, imo. GLTA
Reverse split and massive dilution, yup, wash rinse repeat>>>
LMAO and look what the offering shares after excludes:
Common Stock to be outstanding
prior to this offering(1) 1,073,815 shares of common stock
Common Stock to be outstanding
after this offering(1) 4,299,621 shares of common stock, assuming no sale of any pre-funded warrants and no exercise of the common stock purchase warrants being offered in this offering. To the extent pre- funded warrants are sold, the number of shares of common stock sold in this offering will be reduced on a one-for-one basis.
· up to $14,434,085 of shares of our common stock issuable to Lincoln Park Capital Fund, LLC (“Lincoln Park”) from time to time under the Lincoln Park Purchase Agreement (
https://www.sec.gov/Archives/edgar/data/1811623/000110465923119135/tm2330825-1_s1a.htm
(1) The number of shares of our common stock outstanding after this offering is based on 1,073,815 shares of our common stock outstanding as of September 30, 2023, assumes no sale of any pre-funded warrants and no exercise of the common stock purchase warrants offered hereby and excludes:
· 8,359 shares of our common stock issuable upon the exercise of the 2020 warrants to purchase shares of common stock at an exercise price equal to $51.00 per share;
· 51,056 shares of common stock issuable upon the conversion of our outstanding Series X Preferred Stock;
·
93,739 shares of our common stock reserved for issuance upon settlement of restricted stock units granted as of September 30, 2023 pursuant to the PaxMedica Inc. Amended and Restated 2020 Omnibus Equity Incentive Plan (the “2020 Plan”), of which 8,162 have been issued since September 30, 2023;
· 101,863 shares of our common stock available for issuance under the 2020 Plan;
· 6,364 shares of our common stock issuable upon the exercise of warrants to purchase shares of common stock at an exercise price of $116.96 per share issued to the underwriters in connection with our initial public offering (the “Underwriter Warrants”);
· 11,841 shares of our common stock issuable upon exercise of the 2022 Warrants at an exercise price equal to $71.40 per share;
· 8,360 shares of our common stock issuable upon the exercise of the Representative’s Warrants (as defined below) issued in January and March 2023 to purchase shares of common stock at an exercise price equal to $51.00 per share and $59.50 per share, respectively;
· up to $14,434,085 of shares of our common stock issuable to Lincoln Park Capital Fund, LLC (“Lincoln Park”) from time to time under the Lincoln Park Purchase Agreement (as defined below), of which 770,718 shares of our common stock have been registered for resale on a Registration Statement on Form S-1 (File No. 333-268882), initially filed with the Securities and Exchange Commission (the “Commission”) on December 19, 2022 and declared effective on December 27, 2022 (the “Lincoln Park Registration Statement”);
· 1,306,860 shares of common stock issued and up to 109,501 shares of common stock issuable upon the conversion or repayment of a secured, 18-month, interest free convertible promissory note in the principal amount of $3,680,000 (the “Lind Note”) issued to Lind Global Fund II LP (“Lind”) as of November 14, 2023, assuming a conversion price of $2.17, the assumed offering price per share (see “Risk Factors – Risks Related to Our Common Stock - This offering will result in the adjustment of the exercise price of the Lind Warrants and the conversion price of the Lind Note”); and
· 47,059 shares of common stock issuable to Lind upon exercise of common stock purchase warrants (the “Lind Warrants”) at an exercise price of $55.25 (see “Risk Factors – Risks Related to Our Common Stock - This offering will result in the adjustment of the exercise price of the Lind Warrants and the conversion price of the Lind Note”).
All share and per share information referenced throughout this prospectus has been retroactively adjusted to reflect the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split have been rounded up to the nearest whole share.
https://www.sec.gov/Archives/edgar/data/1811623/000110465923119135/tm2330825-1_s1a.htm
$PXMD 8.35 HALTED @GAIN
PXMD new 52 week low
PXMD new 52 week low
PXMD new 52 week low
PXMD new 52 week low
357,000 shares short,could squeeze big
Insiders buying up 500%,buy vol up huge,almost no selling ,#1 on my scanner so I have to buy ,short is 40% of float
2.63. tiny 700k float. 70% institutional owned. coulda squeeze. lets see.
Bad trade, figured they had a agreement with Lincoln Park for funding, this stock is not a good bet for traders. Lincoln Park shorting it, even though on the contract stipulation that no shorting or lending their stock for shorting purposes. Overall a bad trade.
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