Peak Bio Closes up to $100 M Common Stock Purchase Transaction

(24/7 MARKET NEWS) – Peak Bio, Inc. (NASDAQ: PKBO) announced, this morning, that it entered into a common stock purchase agreement with White Lion Capital, which provides Peak Bio the right, without the obligation, to sell White Lion Capital up to $100 million of its common stock over a 36-month period, subject to certain limitations and conditions. Peak Bio intends to use the transaction’s net proceeds for working capital to support its clinical and preclinical programs.

Peak Bio gapped up to open at $6.57, but has pulled back to $4.79, up $0.99 (+26.05%), on volume of 1.9 million shares, following a very active premarket session.

Its trading range has been $3.80 to $14.9997, with key inflection points being $5.8608 and this morning high of $6.58.

24/7 MARKET NEWS, INC Disclaimer

24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.

RelatedNews

Signup today for free and be the first to get notified of breaking news.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

SIGN UP FOR OUR NEWSLETTER

Sign up for Breaking Alerts, our newsletter putting timely and updated stock and crypto markets news into your hands.

Add New Playlist