OncoSec Medical (NASDAQ:ONCS) stock is falling on Thursday after the company revealed details of a stock offering.
The biggest news from the company’s prospectus is warrants of its stock having an exercise price of $2.02 per share. To put that in perspective, OncoSec Medical’s stock closed out Wednesday with a price of $2.20 per share.
OncoSec Medical intends to offer 6,188,118 shares, 6,188,118 pre-funded warrants, and 6,188,118 common warrants as part of the stock offering. The company has yet to determine the price of shares in the offering. It will negotiate this price with Alliance Global Partners and investors in the offering.
Investors wondering about the exact price of the offering and the timing, still have to wait. The company hasn’t determined these two factors just yet. That means we can expect another announcement down the road with more details about this offering.
ONCS Stock Movement Today
While shares of ONCS stock aren’t seeing heavy trading, today’s news is still dragging down the price of the company’s shares. That makes sense as investors typically don’t react well to public stock offerings. Especially when they price shares below the current market value.
In the case of ONCS stock, shares are down 24.6% in pre-market trading on Thursday.
Investors seeking out more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Thursday! A few examples include why shares of TeraWulf (NASDAQ:WULF), ZyVersa Therapeutics (NASDAQ:ZVSA), and Tenax Therapeutics (NASDAQ:TENX) stock are in the news. You can read up on all that at the links below!
More Thursday Stock Market News
- Why Is TeraWulf (WULF) Stock Down 34% Today?
- Why Is ZyVersa Therapeutics (ZVSA) Stock Up 94% Today?
- Why Is Tenax Therapeutics (TENX) Stock Up 149% Today?
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
