Shares of Biopharmaceutical company MediWound (NASDAQ:MDWD) are tanking today owing to a registered securities offering of ~7.57 million shares and ~9.85 million warrants which will enable accredited investors in the agreement to acquire additional shares of the company.
MDWD expects to raise gross proceeds of ~$30.5 million from the offerings. It plans to use the funds to scale up its facilities and for the development of EscharEx.
Additionally, it could also use a part of the funds to in-license or invest into or acquire other assets.
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