NetworkNewsBreaks – Genprex, Inc. (NASDAQ: GNPX)
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Posted On: 05/28/2020 3:35:47 PM
NetworkNewsBreaks – Genprex, Inc. (NASDAQ: GNPX) Secures $2.5 Million in Cash Proceeds from Recent Warrant Exercises
Genprex (NASDAQ: GNPX) today announced the exercise of warrants to purchase approximately 5.4 million shares of common stock issued in connection with capital raises in May 2018 and November 2019 with two institutional investors at a price of $0.46 per share, resulting in its receipt of approximately $2.5 million in cash proceeds. According to the update, the warrants were exercised on or about May 22, 2020, the first day they became exercisable under their respective agreement terms. The exercised warrants represent approximately 70% of the company’s overall outstanding warrants and include all warrants that have been issued to investors in the company’s public financings to date. After the exercise, remaining warrants carry a weighted average exercise price of approximately $3.93. Genprex believes the elimination of the majority of its outstanding warrants represents a significant milestone for the company, providing a dramatically simplified capital structure.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Genprex (NASDAQ: GNPX) today announced the exercise of warrants to purchase approximately 5.4 million shares of common stock issued in connection with capital raises in May 2018 and November 2019 with two institutional investors at a price of $0.46 per share, resulting in its receipt of approximately $2.5 million in cash proceeds. According to the update, the warrants were exercised on or about May 22, 2020, the first day they became exercisable under their respective agreement terms. The exercised warrants represent approximately 70% of the company’s overall outstanding warrants and include all warrants that have been issued to investors in the company’s public financings to date. After the exercise, remaining warrants carry a weighted average exercise price of approximately $3.93. Genprex believes the elimination of the majority of its outstanding warrants represents a significant milestone for the company, providing a dramatically simplified capital structure.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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