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Pulse Biosciences, Inc. Announces Changes to its Rights Offering
HAYWARD, Calif.--(BUSINESS WIRE)-- Pulse Biosciences, Inc. (Nasdaq: PLSE) (the “Company” or “Pulse Biosciences”), a novel bioelectric medicine company
About this update from Pulse Biosciences, Inc
[{"type":"text","content":" HAYWARD, Calif.--(BUSINESS WIRE)--\nPulse Biosciences, Inc. (Nasdaq: PLSE) (the “Company” or “Pulse Biosciences”), a novel bioelectric medicine company commercializing the CellFX® System Powered by Nano-Pulse Stimulation™ (NPS™) technology, announced today two changes to its current rights offering. First, the Company has extended the expiration date of the rights offering from May 23, 2022 to May 26, 2022, at 5:00 p.m., Eastern Time (the “Expiration Date”). Second, the Company has amended the definition of “Alternate Price” in the rights offering to be the volume weighted average price of Pulse Biosciences common stock for the five trading day period through and including May 23, 2022. The rights offering has been registered with the Securities and Exchange Commission (the “SEC”) and a copy of the prospectus describing the rights offering can be obtained at the SEC’s website at www.SEC.gov. All other terms and conditions of the rights offering remain the same as previously announced by the Company in the prospectus and Form 8-K filed by the Company with the SEC on May 4, 2022.\n\nPulse Biosciences has received reports that some brokers have imposed internal “cut-off” dates for participating in the rights offering as early as May 19, 2022, the date of the Company’s previously scheduled annual stockholder meeting. Accordingly, the Company’s Board of Directors has decided to extend the Expiration Date by three business days to allow all stockholders additional time through May 26, 2022 at 5:00 p.m., Eastern Time to exercise their subscription rights, subject to each stockholder’s applicable broker cut off date to subscribe. The Board of Directors has also decided to amend the Alternate Price so that stockholders will know the final subscription price before the new Expiration Date.\n\nThe subscription rights in the rights offering are non-transferrable and may only be exercised during the subscription period. The subscription period for the rights offering commenced on May 4, 2022. The Company has now extended the Expiration Date for the rights offering to 5:00 p.m., Eastern Time, on Thursday, May 26, 2022. The Subscription Price will now equal the lesser of (i) $3.72 and (ii) the volume weighted average price of the Company’s common stock for the five trading days through and including May 23, 2022. The amendments to the rights ...