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Tyme Technologies Shares Dive On $100M Equity Offering

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  • Tyme Technologies Inc (NASDAQ: TYME) has announced the sale of 40 million shares at $2.50 per share in the registered direct offering, with gross proceeds of $100 million. The offering is expected to close by February 8. TYME's closing price as of Wednesday was $3.53.
  • Net proceeds will be used to develop the company's clinical and preclinical assets, general corporate purposes, capital expenditures, acquisitions, working capital, and general and administrative expenses. 
  • Price Action: TYME shares were trading 26.6% lower at $2.59 in the premarket session on the last check Thursday.
 

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Posted-In: Biotech News Penny Stocks Offerings Small Cap General

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