TFF Pharmaceuticals tumbles 25% after hours on proposed stock offering
Nov. 17, 2022 4:07 PM ETTFF Pharmaceuticals, Inc. (TFFP)By: Jessica Kuruthukulangara, SA News Editor1 Comment
- TFF Pharmaceuticals (NASDAQ:TFFP) tumbled 25% after hours on Thursday as the company announced an underwritten public stock offering.
- Underwriters will be given a 45-day option to buy up to an additional 15% of the number of shares and warrants offered at the offering price.
- There can be no assurance as to whether the offering may be completed, or the actual size and terms.
- TFF (TFFP) intends to use the net proceeds for working capital and general corporate purposes.
- The offering is expected to price on or about Nov. 17.
- Shares of TFF (TFFP) have fallen 86% YTD.