ChromaDex Raises $25M Via Equity At 22% Discount

by Vandana Singh, Benzinga Editor

February 22, 2021 7:17 AM | 1 min read | Make a Comment

ChromaDex Corp (NASDAQ: CDXC) enters into a securities purchase agreement to sell $25 million in common stock via a private placement led by a new international investor.
The company will sell around 3.8 million shares at $6.50 per share, representing a discount of 22% on the last close price of $8.31 on Friday.
The placement will close by February 23.
ChromaDex plans to use the proceeds to accelerate the Tru Niagen brand's growth, advance clinical research on NAD+ precursors, and support general corporate purposes.
Price Action: CDXC shares are down 3.49% at $8.02 in the pre-market session on the last check Monday.

Posted In: Biotech News Offerings Small Cap General

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