(NASDAQ:TNFA) NEW YORK--(BUSINESS WIRE)---- $TNFA--TNF Pharmaceuticals, Inc. (Nasdaq: TNFA) (“TNF” or the “Company”) today announced the closing of a $7.0 million private placement financing of convertible preferred stock with the Company’s largest strategic stockholder and other existing stockholders. The private placement involved the sale of 7,000 shares of preferred stock, with a stated value of $1,000 per share, convertible into 1,400,000 million shares of the Company’s common stock at an initial conversion price
Related Questions
How will the conversion terms of the preferred stock affect the dilution of existing shareholders?
What is the intended use of the $7 million proceeds and how will it impact the company's runway or upcoming milestones?
When can we expect the conversion to common stock to occur and what catalysts might trigger it?