Rezolute (RZLT) has issued an update.
On June 25, 2024, a company engaged in a private placement deal, selling 1.5 million shares at $4 each, above the Nasdaq closing bid price, with the goal of raising $6 million for clinical research, working capital, and other corporate needs. They also agreed to a registration rights agreement to enable the resale of these shares, subject to SEC regulations. The deal, not open to the public and requiring no SEC registration for the initial sale, includes customary legal and financial provisions and obligations, including potential liquidated damages for the company’s failure to meet SEC filing and effectiveness deadlines.
Learn more about RZLT stock on TipRanks’ Stock Analysis page.
