FX.co ★ NAYA Biosciences To Raise $9.5 Mln Through Public Offering Of Units

NAYA Biosciences (NAYA), a company in the life sciences sector, announced on Monday its decision to initiate a public offering totaling approximately 13.6 million units, priced at $0.70 each. Each unit includes one share of common stock and one warrant, enabling the purchase of an additional share at the identical price of $0.70. These warrants are immediately exercisable and are set to expire five years from the date of initial issuance.

The company anticipates generating gross proceeds of about $9.5 million from this offering.

The funds raised will be allocated towards diverse objectives, such as a contribution towards the acquisition of the Wisconsin Fertility Institute, the redemption of Series C-2 preferred stock, and the settlement of existing debt obligations.

The transaction's completion is expected to occur on or around January 14.

Currently, NAYA's stock is trading at $0.49 on the Nasdaq, reflecting a decline of 38.5 percent, or $0.31.