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Stock impact report

Gain Therapeutics (GANX) Down 25% on Issue of New Common Stock [Yahoo! Finance]

Gain Therapeutics, Inc. (GANX) 
Company Research Source: Yahoo! Finance
With regard to the public issue, Gain Therapeutics will issue $2.2 million shares at a price of $2.005 each. Per the terms of the offer, every 2 shares of common stock will be accompanied by a warrant. Each warrant is eligible for the purchase of one share at an exercise price of $2.75 per share. This warrant will be exercisable immediately upon issuance of the common stock and valid for five years from the issuance date. GANX also granted an option to underwriters of the issue to purchase an additional 15% of shares of common stock and/or warrants at the public offering price. Alongside the public offering, Gain also plans to concurrently complete a private placement offer of 2.5 million shares of common stock to an accredited investor at a price of $2.00 each. Unlike the public offering, each share issued under the private placement will be accompanied by a warrant. Though each warrant is also eligible for the purchase of one share at an exercise price of $2.75 per share, it wi Show less Read more
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