Aditxt (NASDAQ:ADTX) stock price dipped 48% on the purchase and sale of an aggregate of 1M shares at a purchase price of $10.00 per share in a private placement priced at the market under Nasdaq rules.
Each share of common stock is being offered in the offering together with warrants to purchase one share at an exercise price of $10.00 per share. The warrants will be exercisable immediately upon issuance and expire five and one-half years from the date of issuance.
The gross proceeds from the offering are expected to be $10M. Net proceeds will be deployed for working capital and other general corporate purposes.
The private placement is expected to close on or about September 5, 2023.