Why did ENDRA Life Sciences stock drop 60% overnight?
ENDRA Life Sciences stock (NASDAQ: NDRA) fell nearly 65% during Tuesday's trading to $0.07. The company priced a public offering of 61,538,461 common shares (or pre-funded warrants in lieu of shares) along with Series A and Series B warrants. This offering is being made on a "best efforts" basis, with no guaranteed amount to be raised. ENDRA plans to use the net proceeds from this offering for general corporate purposes, including funding ongoing operations and further developing its technology. The offering is expected to close tomorrow, June 5th. ENDRA Life Sciences stock has declined by 94.95% year-to-date. NDRA has a 52-week high of $2.79 and a 52-week low of $0.069
ENDRA Life Sciences stock (NASDAQ: NDRA) fell nearly 65% to $0.07 during Tuesday's trading session. The company priced a total of 61,538,461 million common shares (or pre-financing subscription rights in lieu of shares), along with A series and B series warrants. This issuance was done on a "best efforts" basis, therefore no guaranteed amount was raised.
ENDRA plans to utilize the net proceeds from this offering for general corporate purposes, including funding daily operations and further developing its technology. The offering is expected to conclude tomorrow, June 5th.
ENDRA Life Sciences stock has already dropped by 94.95% year-to-date. NDRA's 52-week high is $2.79, and the 52-week low is $0.069
