Quoin Pharmaceuticals Prices $6.8 Million Equity Offering -- Shares Fall

MT Newswires Live

2024/12/21

Quoin Pharmaceuticals (QNRX) said Friday it has priced a public offering of 15.1 million American Depositary Shares, along with Series F and Series G warrants to purchase an equal number of ADSs, at $0.45 per ADS for a total of $6.8 million in gross proceeds.

One ADS represents one ordinary share of the company.

The funds will be used for general corporate purposes, including research and development, Quoin Pharmaceuticals said.

The offering is expected to close by Monday.

Quoin Pharmaceuticals shares fell nearly 6% in recent trading.

Price: 0.61, Change: -0.04, Percent Change: -5.69

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