Xenetic Biosciences slumps on stock-and-warrants offering

Xenetic Biosciences

17/07/2019 17:57

** Drug developer's shares  XBIO.O  slump as much as 52% to
record low of $5.2
    ** Co prices 2.3 mln shares of common stock and warrants to
purchase up to as many common shares at combined price of $6.50
per share and warrant; XBIO closed at $10.85 on Tuesday
 urn:newsml:reuters.com:*:nFWN24I0AJ
    ** Gross proceeds from the offering are expected to be about
$15 mln
    ** Maxim Group LLC is acting as sole book-running manager
for the offering
    ** Up to Tuesday's close, XBIO had slumped ~45% this year

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((Reuters Messaging:
manojna.kalyani.thomsonreuters.com@reuters.net))