Friday, March 25, 2022 9:45:27 AM
Completed another fund raise. This one placed 12.5 million shares plus warrants for another 25 million shares at $.45 and $.5625/ unit (each unit contained 1 share and 2 warrants). The company netted $4.8 million cash. It also lowered the exercise price of 2 million warrants from the prior offering from $1 to $.43 (not positive about this but I believe I read it somewhere). Also granted options to purchase 1.8 million shares at $.43 with 2.6 million warrants.
So recap:
Prior offering raised about $1.8 million with 2 million shares of dilution plus warrants for 2 million more shares of dilution at $.43.
Latest offering raised about $4.8 million with 12.5 million shares of dilution plus 25 million warrants plus options for 1.8 million shares and warrants for an additional 3.6 million shares. All at prices about half of the prior offering. Here's a link to the latest report in case I got any of the details wrong:
https://ih.advfn.com/stock-market/NASDAQ/statera-biopharma-STAB/stock-news/87654468/current-report-filing-8-k
See the pattern of more dilution at lower and lower prices? The cash from the prior offering should be just about gone by now, and this new $4.8 million might last 2 months (based on the latest financial reports). No wonder a reverse split and increase in authorized shares is coming (as reported by the company itself). No wonder its NASDAQ listing is in jeopardy (also as reported by the company itself). No wonder the price is under 50 cents.
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM