SciSparc (NASDAQ:SPRC) stock is rising higher on Tuesday after the pharmaceutical company regained listing compliance.
SciSparc notes that the Nasdaq has closed a complaint against the company concerning the price of its shares. Yesterday, the exchange confirmed that shares of SPRC stock had traded above $1 per share for 10 consecutive business days.
SciSparc was in danger of being delisted prior to this as its shares were trading below $1 apiece. That’s the minimum bid price required to remain on the Nasdaq. Investors will note that the company used a reverse stock split to boost the price of its shares.
SPRC Stock Private Placement
SciSparc is also reminding investors of its recently completed private placement today. The company sold 1.93 million units in this placement for gross proceeds of $5.026 million. Each of these units contains two pre-funded warrants with an exercise price of $0.001. The warrants are immediately exercisable and expire in five years.
As far as trading activity goes today, some 777,000 shares of SPRC stock have changed hands as of this writing. That’s already above its daily average trading volume of about 389,000 shares. SPRC is also up 105% as of Tuesday morning.
Investors seeking out even more of the most recent stock market stories will want to stick around!
InvestorPlace is offering up all of the latest stock market news traders need to know about on Tuesday! That includes what’s happening with the biggest pre-market stock movers this morning, the hottest Cassava Sciences (NASDAQ:SAVA) stock news and more. All of that info is ready to go at the links below!
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On the date of publication, William White did not hold (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.
