IntelGenx Technologies (IGXT) has released an update.
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IntelGenx Technologies Corp. has teamed up with Digital Offering, LLC to facilitate a best-effort public offering of up to 2 million shares of its convertible Series A Preferred Stock and a potential 40 million shares of common stock. Digital Offering will spearhead the sales efforts, earning a 7% commission on gross proceeds plus additional fees for expenses and legal costs. Additionally, they’re entitled to warrants for 4.5% of the sold shares but are not obligated to guarantee any particular sales volume. This partnership could signal a pivotal growth phase for IntelGenx, presenting an opportunity for investors to get in on the ground floor.
For further insights into IGXT stock, check out TipRanks’ Stock Analysis page.