TNF Pharmaceuticals announced the closing of a $7 million private placement financing of convertible preferred stock.
The financing was priced at a 44% premium to the market.
The offering involved the sale of 7,000 shares of preferred stock at $1,000 per share, convertible into 1,400,000 shares of common stock at an initial conversion price of $5.00.
Strategic Investor Lead
The financing was led by a top strategic investor with significant participation from existing stockholders.
New Capital Positioning
The $7 million in new capital is intended to support TNF's key development milestones for their innovative technology.
Development Focus
TNF aims to continue developing isomyosamine and Supera-CBD to create value for shareholders.
- The new funds are expected to propel TNF towards achieving crucial technology development milestones.
- The strategic investor's involvement showcases confidence in TNF's value proposition and execution of strategies.
The closing of the $7 million private placement signifies a significant step for TNF Pharmaceuticals in advancing its technology and development plans. The support from strategic investors underlines confidence in TNF's future prospects.