Tenax Therapeutics (TENX) has released an update.
Tenax Therapeutics, Inc. successfully completed a public offering on February 12, 2024, raising approximately $9.0 million in gross proceeds through the sale of common stock and warrants. This strategic move, which netted the company around $8.0 million after expenses, involved the issuance of over 421,000 shares and more than 1.1 million pre-funded warrants, with an additional 3.2 million common warrants to boost future capital. The warrants are exercisable immediately, offering long-term investment potential with a five-year expiration for common warrants and no expiration for pre-funded warrants, designed for investors approaching ownership thresholds.
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