Genelux Corp. (GNLX) Tuesday announced the pricing of a 3 million underwritten share offering at $3.50 per share. The gross proceeds are expected to be $10.5 million.
Shares of Genelux are dropping in the market now.
The net proceeds from the offering will be used for continued clinical development of Olvi-Vec, working capital, and general corporate purposes. The offering is expected to close on or about March 26, 2025.
Genelux is currently trading 13.41% lesser at $3.3690 on the Nasdaq.
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