Notable Stock News to Watch: Tiziana Life Sciences plc (NASDAQ:TLSA)

Tiziana Life Sciences plc (NASDAQ:TLSA) spotted trading -24.12% off 52-week high price. On the other end, the stock has been noted 156.49% away from the low price over the last 52-weeks. The stock changed 95.54% to recent value of $3.95. The stock transacted 11868833 shares during most recent day however it has an average volume of 40.37K shares. The company has 27.33M of outstanding shares and 11.17M shares were floated in the market.

On March 11, 2020, Tiziana Life Sciences plc (NASDAQ:TLSA) a U.S. and U.K. biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology, released the pricing of its underwritten follow-on public offering (the Offering) of American Depositary Shares (ADSs) on the NASDAQ Global Market. Tiziana will issue 3,333,333 ADSs (representing 16,666,665 new ordinary shares of nominal value £0.03 each in the capital of the Company (Ordinary Shares)) at a price to the public of $3.00 per ADS raising gross proceeds of approximately $10 million (before deducting underwriting discount, commissions and offering expenses). Each ADS offered represents five (5) Ordinary Shares. In addition, Tiziana has granted the underwriters a 45-day option to purchase up to an additional 500,000 ADSs on the same terms and conditions (the Option).  All ADSs to be sold in the Offering will be offered by the Company. The number of Ordinary Shares represented by ADSs comprised in the Offering (including by way of the exercise of the Option) will be within existing shareholder authorities.

ThinkEquity, a division of Fordham Financial Management, is acting as the sole book-running manager for the Offering.

The price moved ahead of 93.99% from the mean of 20 days, 63.60% from mean of 50 days SMA and performed 27.14% from mean of 200 days price. Company’s performance for the week was 123.19%, 70.32% for month and YTD performance remained 46.30%.

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