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CytoDyn commences $1.2M direct capital raise; shares ease 3%
11:48 AM ET • CYDY • SA Editor Douglas W. House
CytoDyn (OTCQB:CYDY -3.3%) inks agreements with certain investors for the direct placement of 1,534,999 shares of common stock at $0.75/share. Buyers will also receive five-year warrants to purchase 767,498 shares of common at $1.
Net proceeds of ~$1M will fund clinical trials and general corporate purposes. Closing date is today.
Yesterday's close was $0.73.
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