2d illustrations and photos
Biotech Bullfrog AI (BFAI) has added an exercise price for warrants to be offered through a proposed $8M initial public offering.
The AI-based drug developer said in a filing that it still intends to offer 1.3M units at the assumed price of $6.375, which is subject to change. Each unit will consist of one share plus one warrant to buy one share at the exercise price of $6.75 per share.
Underwriters would be granted a 45-day option to buy up to 198K additional shares and/or warrants at the IPO price. Wallachbeth Capital and Viewtrade Securities are serving as lead bookrunners.
The company hopes to list its shares on Nasdaq under the symbol BFAI. It also intends to conduct a 1-for-7 reverse stock split ahead of the deal.
Bullfrog first filed to conduct an IPO in late October.
Image and article originally from seekingalpha.com. Read the original article here.