Tonix Pharmaceuticals Holding Corp (TNXP)

[timberwolf7]

Given that they said they have cash to get into 2027? Given they
just announced another what was it, $25 Mil to buy shares back?

Well it could te one of two things:

-the news of an increase in $s to buyback shares can lead to an
increase in the share price. So maybe the follow on announcement
of a major increase in the ATM (number of AUTHORIZED SHARES goes up)
amount that can be sold is supposed to offset the news of a buyback and even
make the shares cheaper to buy back. A WIN for the company IF they do a buyback.
And the ability to sell a lot more shares at an ATM can then do 2 things:
IF the share price runs up?
They can dilute at a much higher price (create fewer new shares to raise even more
cash)
and they can then raise the AUTHORIZED share count by up to $400 Mil worth of shares
sold. Could support a forward split.

I didn't realize till yesterday that the number of AUTHORIZED shares did NOT increase
in the same ratio of a split if one occurred. I could go into a deeper explanation, but
given this appears accurate? It appears that IF they are pondering a forward split for
instance, they likely need to increase the number of AUTHORIZED shares (which I believe
they just did with the upping to the $400 Mil mark).

Again, this is all premised on that I have been expecting them to due to the tight share count,
announce a forward split just to make more shares available to wall street. Like its been for
over a year now for those holding that long (or longer)? Have to wait and see where things go
vs what we anticipate based on our experiences/lessons learned.

Remains unchanged
Authorized shares when a stock aplit occurs
When a stock split occurs, the number of authorized shares remains unchanged, but the number of issued shares increases. This means that while the total number of shares a company can issue is limited by its articles of incorporation, the actual number of shares available to investors is increased. The difference between authorized and issued shares is crucial for understanding the company's capital structure and the impact of stock splits on shareholder equity.
FasterCapital
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