BriaCell Therapeutics Corp is currently experiencing a significant decrease in its share value, which plummeted by 40% to 65 cents as a result of the company's recent public offering announcement. This offering entails the pricing of 7.4 million common shares and warrants at 75 cents per share, with the included warrants exercisable at $0.9375 per share over a five-year period. The company anticipates raising around $5.55 million in gross proceeds from this offering before any associated expenses.
The public offering, managed by ThinkEquity, is scheduled to come to a close on December 13, pending the fulfillment of customary conditions. BriaCell Therapeutics Corp has outlined its intentions to utilize the funds garnered from this offering for purposes such as working capital, advancing corporate objectives, and driving its business initiatives forward. Moreover, data sourced from Benzinga Pro indicates that BriaCell's stock, trading under the symbol BCTX, has recorded a 52-week high of $5.93 and a low of $0.46, highlighting the considerable fluctuations in the company's stock performance over the past year.