Outlook Therapeutics, Inc. (OTLK) shares plunged above 48%, reaching a new 52-week low of $0.16 on Tuesday, after the firm priced its previously announced public offering of 20 million shares and accompanying warrants to purchase up to 20 million shares at a combined public offering price of $0.25.
The aggregate gross proceeds of the offering are expected to be $5 million.
Outlook intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.
Each common warrant will have an exercise price of $0.25 per share, will be exercisable immediately and will expire five years from the date of issuance.
The offering is expected to close on or about March 25, 2026.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The stock closed Monday's trading at $0.31, down 8.91%.OLTK has thus far hit a high of $3.39 in the last year.
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