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Strong Buy (4.00 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 7:55 PM
Slide #21. Tonix Pharmaceuticals Holding Corp. — Preferred Stock Offering
| Company: |
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) |
| Date announced: |
10/25/2022 |
| Shares Offered: |
100,000 |
| Date of Pricing: |
10/25/2022 |
| Price Per Share: |
$9.50 |
| Preferred Stock Offering Details: |
Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a clinical-stage biopharmaceutical company, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase 1,400,000 shares of Series A convertible redeemable preferred stock and 100,000 shares of Series B convertible redeemable preferred stock. Each share of Series A and Series B preferred stock has a purchase price of $9.50, representing an original issue discount of 5% of the $10.00 stated value of each share. Each share of Series A and Series B preferred stock is convertible into shares of the Company's common stock at an initial conversion price of $1.00 per share. Shares of the Series A and Series B preferred stock are convertible at the option of the holder at any time following the Company's receipt of shareholder approval for an increase to the authorized shares of common stock of the Company from 150 million to 1 billion. The Company and the holders of the Series A and Series B preferred stock also entered into a registration rights agreement to register the resale of the shares of common stock issuable upon conversion of the Series A and Series B preferred stock. Total gross proceeds from the offerings, before deducting discounts, placement agent's fees and other estimated offering expenses, is $15 million. |
Tonix Pharmaceuticals Holding is a clinical-stage biopharmaceutical company focused on developing therapeutics and vaccines to treat and prevent human disease and alleviate suffering. Co. is building capabilities in synthetic biology, precision medicine, protein engineering, medicinal chemistry, molecular biology, pharmacogenomics and clinical-scale manufacturing. Co.'s therapeutics under development include both small molecules and biologics. Co.'s portfolio consists of central nervous system (CNS) rare disease, immunology, and infectious disease product candidates. The CNS portfolio includes small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions.
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