RSS Inovio Pharmaceuticals Prices $30 Mln Public Offering With Warrants

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 RSS Inovio Pharmaceuticals Prices $30 Mln Public Offering With Warrants

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Inovio Pharmaceuticals, Inc. (INO), a company in the clinical-stage biotechnology sector, announced on Friday the pricing details of their public offering, which includes 10 million common shares along with accompanying warrants to purchase an additional 10 million shares.

The anticipated gross revenue from this offering is $30 million, excluding deductions for underwriting fees, commissions, and other related expenses, and assuming no warrants are exercised. All securities in this offering are being issued directly by INOVIO.

Each warrant grants the buyer the option to purchase one share at a price of $3.76. The combined public offering price for one share coupled with one warrant is set at $3.00. The transaction is scheduled to conclude on December 16.

Stephens Inc. is acting as the lead manager, with Oppenheimer & Co. Inc. and Citizens JMP serving as joint book-running managers for the offering.

In pre-market trading today on the Nasdaq, INO shares experienced a decline of over 23%, dropping by $0.87 to a trading price of $2.89.

The material has been provided by InstaForex Company - www.instaforex.com
 
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