Scinai Immunotherapeutics (SCNI) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Scinai Immunotherapeutics Ltd., a biopharmaceutical company, has secured a $2 million investment commitment from its largest shareholder, RK Stone Miami LLC. Under the agreement, Scinai may sell shares to the investor until the end of 2024 at a discounted price, with the flexibility to issue shares based on market prices and a limit on shareholder ownership percentages. The deal, which includes a commitment fee and does not necessitate resale registration, strengthens Scinai’s financial position as it continues to develop immunological therapies and provide CDMO services.
For further insights into SCNI stock, check out TipRanks’ Stock Analysis page.