Sonoma Pharmaceuticals, Inc. (SNOA) priced a $4 million offering of 2.96 million shares and 2.96 million warrants. The offering is priced at $1.35 per share, and the warrants have an exercise price of $1.35 per share.
The company expects to use the net proceeds from the offering for general corporate purposes, including working capital.
The offering is expected to close on April 27, 2026, subject to customary closing conditions.
In addition, Sonoma Pharma has granted Dawson James Securities a 45-day option to purchase up to 15% of the number of shares or warrants sold in the offering solely to cover over-allotments, if any.
Sonoma Pharma develops stabilised hypochlorous acid (HOCl) products for a wide range of applications, including wound care, eye care, dermatological conditions, podiatry, animal health care and non-toxic disinfectants. SNOA has traded between $0.85 and $6.92 over the last year. The stock closed Friday's trade at $1.14, down 36.67%.
In the pre-market, SNOA is down 0.86% to $1.13.
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