Xenetic Biosciences jumps again after $12.5 mln share placement
26/07/2021 13:53
** Xenetic Biosciences Inc XBIO.O up 30% premarket on over
12 mln shares of trading volume after co announces equity raise
** XBIO says sold 4.6 mln shares to a single
healthcare-focused institutional investor at $2.70 in private
placement for gross proceeds of $12.5 mln urn:newsml:reuters.com:*:nACS8JxSda
** Investor also to receive 3-1/2-year warrants to buy up to
~4.6 mln additional shares; warrants have exercise price of
$3.30
** XBIO shares on Fri rose 35.5% to $2.52
** Co has ~8.75 mln shares outstanding and ~8 mln shares of
public float, per Refinitiv data
** H.C. Wainwright exclusive placement agent for offering
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))