Prophase labs announces pricing of public offering of common stock

Garden city, ny, nov. 07, 2024 (globe newswire) -- prophase labs, inc. (nasdaq: prph) (“prophase” or the “company”), a next-generation biotech, genomics and diagnostics company, today announced the pricing of its underwritten public offering of 4,170,000 shares of common stock. each share of common stock is being sold at a public offering price of $0.72 per share, for gross proceeds of approximately $3 million, before deducting underwriting discounts, and offering expenses. all of the shares are being offered by the company. in addition, the company has granted the underwriters a 45-day option to purchase up to an additional 625,500 shares of common stock at the public offering price less discounts, to cover over-allotments. the offering is expected to close on november 12, 2024, subject to satisfaction of customary closing conditions.
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