- The stock price of Agile Therapeutics Inc (NASDAQ: AGRX) fell over 20% this past week. This is why it happened.
The stock price of Agile Therapeutics Inc (NASDAQ: AGRX) fell over 20% this past week. Investors had responded negatively to Agile Therapeutics announcing on Friday the pricing of its underwritten public offering of 26,666,648 shares of its common stock and warrants to purchase 13,333,324 shares of its common stock at a combined offering price to the public of $0.85 per one share of common stock and one-half of a warrant to purchase one share of common stock.
These warrants have an exercise price of $0.85 per share of common stock, are exercisable immediately, and will expire 5 years from the date of issuance.
The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Agile Therapeutics are expected to be approximately $22,666,650. And all securities in the offering will be sold by Agile Therapeutics.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering.
The offering is expected to close on or about October 13, 2021, subject to customary closing conditions.
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