Why ZyVersa Therapeutics Shares Are Down 40%

ZyVersa Therapeutics Inc ZVSA shares are trading lower by 43.7% to $1.20 Thursday morning. The company priced a public offering of 4 million shares (or warrants) at $1.25 each, aiming to raise $5 million.

These shares come with Series A and B warrants allowing the purchase of up to 8 million shares at the same price.

The offering is expected to close around December 11, and the company plans to use the funds for general corporate purposes and working capital.

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According to data from Benzinga Pro, ZVSA has a 52-week high of $874.12 and a 52-week low of $1.20.