Sonoma Pharma Prices $4 Mln Offering Of Shares And Warrants

Sonoma Pharmaceuticals priced a $4 million equity offering consisting of 2.96 million shares and 2.96 million warrants at $1.35 per share, with the warrants also exercisable at $1.35. The deal adds capital to the company but is dilutive to existing shareholders. The announcement is likely to be modestly negative for the stock, though the immediate market impact should be limited.

Analysis

Sonoma Pharmaceuticals priced a $4 million equity offering consisting of 2.96 million shares and 2.96 million warrants at $1.35 per share, with the warrants also exercisable at $1.35. The deal adds capital to the company but is dilutive to existing shareholders. The announcement is likely to be modestly negative for the stock, though the immediate market impact should be limited.