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By Colin Kellaher
Vistagen Therapeutics shares tumbled on Monday after the clinical-stage biopharmaceutical company said it was raising $100 million in a public offering of stock and warrants.
The company said it is selling more than 18.5 million shares and prefunded warrants, along with warrants to buy up to another $150 million in stock, at a combined price of $5.38 per share and accompanying warrants, just above Friday’s closing share price of $5.24.
Shares of Vistagen, which had about 9.36 million shares outstanding as of Aug. 10, were recently changing hands at $4.27, down nearly 19%.
Write to Colin Kellaher at [email protected]
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