PreferredStockChannel

Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Fri, January 27, 1:10 PM

Slide #74. Tonix Pharmaceuticals Holding Corp. Preferred Stock Offering

Company: Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)
Date announced: 10/25/2022
Shares Offered: 1,400,000
Date of Pricing: 10/25/2022
Price Per Share: $9.50
Preferred Stock Offering Details: Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a clinical-stage biopharmaceutical company, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 1,400,000 shares of Series A convertible redeemable preferred stock and 100,000 shares of Series B convertible redeemable preferred stock. Each share of Series A and Series B preferred stock has a purchase price of $9.50, representing an original issue discount of 5% of the $10.00 stated value of each share. Each share of Series A and Series B preferred stock is convertible into shares of the Company's common stock at an initial conversion price of $1.00 per share. Shares of the Series A and Series B preferred stock are convertible at the option of the holder at any time following the Company's receipt of shareholder approval for an increase to the authorized shares of common stock of the Company from 150 million to 1 billion. The Company and the holders of the Series A and Series B preferred stock also entered into a registration rights agreement to register the resale of the shares of common stock issuable upon conversion of the Series A and Series B preferred stock. Total gross proceeds from the offerings, before deducting discounts, placement agent's fees and other estimated offering expenses, is $15 million.

Tonix Pharmaceuticals Holding is a clinical-stage biopharmaceutical company focused on discovering, cquiring and developing therapeutics and diagnostics to treat and prevent human disease. Co.'s portfolio is primarily composed of immunology, central nervous system (CNS), and infectious disease product candidates. Co.'s key product candidate within its immunology pipeline is TNX-1500, a humanized monoclonal antibody, directed against CD40-ligand, engineered to modulate binding to Fc receptors, that is being developed as a prophylaxis against organ transplant rejection. Among the CNS candidates in development is TNX-1300 which is for the treatment of life-threatening cocaine intoxication.
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Name: 
Tonix Pharmaceuticals Holding Corp
Website: 
www.tonixpharma.com;www.tonix.com;www.krele.com
Sector: 
Biotechnology
Number of ETFs Holding TNXP: 
3 (see which ones)
Total Market Value Held by ETFs: 
$699,965
Total Market Capitalization: 
$67,000,000
% of Market Cap. Held by ETFs: 
1.04%
 

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