On Thursday SCYNEXIS (NASDAQ:SCYX) started its trading session with the price $0.78 and closed at price of $0.74 by scoring -6.09%. Day range of the stock was $0.72 – $0.79. SCYX stock traded with total volume of 837837 shares while the average trading capacity remained 741093 shares. Earnings per share was $-0.72. SCYX has total market capitalization of $43311281.
SCYNEXIS (NASDAQ:SCYX) reported the closing of its previously announced underwritten public offering of 38,888,889 shares of common stock and warrants to purchase up to 38,888,889 shares of common stock. Each share of common stock and warrant to purchase one share of common stock were sold at a combined public offering price of $0.90 per share and accompanying warrant. The total gross proceeds to SCYNEXIS from this offering were approximately $35 million, including the exercise of the underwriters’ option to purchase additional warrants, before deducting underwriting discounts and commissions and other estimated offering expenses, and excluding the exercise of any warrants. All of the shares of common stock and warrants were offered by SCYNEXIS.
H.C. Wainwright & Co. acted as sole book-running manager for the offering. Aegis Capital Corp., Brookline Capital Markets, a division of Arcadia Securities, LLC, Maxim Group LLC and WBB Securities acted as the co-managers for the offering.
The warrants have an exercise price of $1.10 per share and exercise period commencing immediately upon issuance and an expiration date of the earlier of (i) such date that is six months after SCYNEXIS publicly announces the approval from the U.S. Food and Drug Administration for ibrexafungerp for the treatment of vulvovaginal candidiasis and (ii) June 12, 2023. There is no established public trading market for the warrants, and SCYNEXIS does not expect a market to develop.
Eugene Harris joined us after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. Eugene earned bachelor degree from Union College with a focus in Business Administration. Eugene is the Senior Editor and market movers section. He also holds an MBA from Penn State University He has two daughter and two children.
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