Why Sellas Life Sciences Shares Are Nosediving

Sellas Life Sciences Group Inc SLS shares are trading lower by 35.7% to $0.58 Thursday afternoon. The stock is trading lower after the company announced pricing of a $9 million public offering.

What Else?

The 12 million shares of common stock along with accompanying warrants aims to generate $9 million before expenses.

Priced at $0.75 per share and warrant, these securities will grant the option to purchase an equal number of shares at the same price within five years.

A.G.P./Alliance Global Partners is the exclusive placement agent for this offering, set to conclude around January 8, pending standard closing conditions.

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According to data from Benzinga Pro, SLS has a 52-week high of $4.13 and a 52-week low of $0.58.