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prospectus amendment
A little factual DD for all. Here is the amendment to the prospectus as filed about 3 hours ago. Note the already 363 MILLION shares of dilution already sold. Do the math and you get an idea of the further dilution ahead. Another $110+ million dollars to go, so approx 200 Million more into the float.
Under the Prior Prospectus, we registered up to an aggregate of $150,000,000 of our common stock, $0.001 par value per share, for offer and sale pursuant to a Sales Agreement, dated July 30, 2024, or the Sales Agreement, between us and A.G.P./Alliance Global Partners. From July 30, 2024 through the date of this prospectus supplement, we sold an aggregate of 363,137,241 shares of our Common Stock for an aggregate purchase price of $112.2 million under the Prior Prospectus. As of the date of this prospectus supplement, we are increasing the aggregate amount of common stock that we are offering pursuant to the Sales Agreement, such that we are offering up to an aggregate of $250,000,000 of our common stock for sale under the Sales Agreement, including the shares of common stock previously sold, or $137.8 million from and after the date hereof.
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71895191 : What’s this mean? Good or bad?
nguyenandy99 : Very bad!
nguyenandy99 : Diluted shares mean less value on share price.
job_11 : The previous 363 million shares were issued at $0.3089 per share. Now that they want to issue additional $110 mil worth of shares, did they mention the issue price? They should be issued at prevailing market share. Thought this requires shareholders' approval.
Capster 77 OP job_11 : it's an "At the Market" offering. I would need to read the sales agreement to see the terms. even @ .50/share it's another 200+ million. as I said I'm out for now but I'm going to do a little homework because I see some patterns in the Broker that is handling the offering. nothing illegal in the offering but a clear pattern in several of the deals they have done since August
103643001 : $137.8m equals to additional 446m shares if sold at same price?!
ns5 : Pls keep us posted on news you may have so we can also make right decision mate
152281935 : Should we wait til Monday? When are they gonna dilute?
Dividens4Life Capster 77 OP : Please let us know what you find!
KhaiZ : On December 20, 2024, Tonix Pharmaceuticals Holding Corp. announced an increase in the maximum aggregate offering price of shares issuable under its Sales Agreement with A.G.P./Alliance Global Partners. The offering size has been raised from $150 million to $250 million.The Sales Agreement, originally dated July 30, 2024, has been modified to accommodate this $100 million increase. Tonix Pharmaceuticals has also filed a legal opinion regarding the legality of the shares issuable under the updated Sales Agreement.This move suggests Tonix Pharmaceuticals is seeking to expand its capital raising capabilities, potentially to fund ongoing operations or future growth initiatives. Investors should note this significant increase in the company's potential share issuance capacity.