Upcoming Offering of Units TLT is seeking $7.5 million or up to $15 million.
Units currently trade at 44-45 cents on TSX Venture.
Each offered unit also comes with a warrant for a unit.
Use pricing of 50 cents for easy math:
Raising $7.5 million would result in 15 million additional shares (two for a buck) and warrants for 15 million addtional shares for a total of fully diluted addition of 30 million shares.
Raising $15 million would be double the 30 million or a total of 60 million diluted shares.
From the Website Fully Diluted: 186,591,747
The closing under the Offering is expected to occur on or about July 22, 2019, on such other date as the Lead Agent and Company may agree.
Anyone observing other biotech stocks with offerings has witnessed the share price take a hit. Some 20% some even more.
For Theralase to raise $15 million Canadian will increase the fully diluted by nearly 33%. That is a big number.
Why should Theralase stock act any different?