Stock Alert: Greenwich LifeSciences Shares Down 10%

Shares of Greenwich LifeSciences Inc. (GLSI) are currently trading at $39.75, down $4.77 or 10.71%, with trading volume of over 682K versus an average volume of 699K shares.

Greenwich LifeSciences, on Friday, announced the pricing of an upsized underwritten public offering with gross proceeds to the company expected to be about $26.4 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the company.

The company has also granted the underwriters a 45-day option to purchase up to an additional 99,000 shares of common stock offered in the public offering to cover over-allotments, if any, at the public offering price, which would increase the total gross proceeds of the offering to about $30.4 million, if exercised in full. The company expects to close the offering on or about December 22, 2020, subject to customary closing conditions.

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