Addex falls after $4.2 mln equity raise from healthcare fund
22/07/2022 11:36
** U.S.-listed shares of Addex Therapeutics ADXN.O fall
12.4% to $1.69 premarket
** Switzerland's drugmaker raises $4.2 mln from Armistice
Master Fund LTV, a healthcare-focused investor
** Co offers 3.3 mln shares in the form of 555,000 of its
American Depository Shares (ADS) to Armistice at $1.70 per ADS,
which is a 12% discount to the stock's last closing price
** Offering represents nearly 9% of ADXN's 6.3 mln
outstanding ADS
** Company's market capitalization was $21.8 mln as of
Thursday's close, down nearly 70% in value this year
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))