Sonoma Pharmaceuticals, a prominent global healthcare leader specializing in the development and production of patented Microcyn® technology-based stabilized hypochlorous acid (HOCl) products across various applications, announced today the pricing of its public offering of 8,500,000 shares of common stock at $0.20 per share. However, this announcement triggered a notable decline in Sonoma Pharmaceuticals’ stock performance.
At the time of this publication, Sonoma Pharmaceuticals Inc stock (SNOA) has witnessed a decline.
Sonoma Pharmaceuticals Inc
Current Price: $0.18
Change : -0.19
Change (%): (-50.18%)
Volume: 2.5M
Source: Tomorrow Events Market Data
The offering is anticipated to generate gross proceeds of approximately $1.7 million for the company, before factoring in placement agent fees, commissions, and estimated offering expenses. This transaction is slated to conclude on or around October 30, 2023, contingent upon meeting customary closing conditions.
Maxim Group LLC has been enlisted as the exclusive placement agent for this offering.
Market Performance Overview for Sonoma Pharmaceuticals Stock:
– 5 Day: A substantial decrease of 75.19%
– 1 Month: A significant decline of 76.79%
– 3 Month: A notable drop of 83.84%
– Year-to-Date (YTD): A substantial dip of 83.84%
– 1 Year: A substantial decrease of 90.62%
Sonoma Pharmaceuticals specializes in creating stabilized hypochlorous acid (HOCl) products applicable in diverse fields such as wound care, eye care, oral and nasal hygiene, dermatological conditions, podiatry, animal health, and environmentally safe disinfectants. These products are distributed directly or through partnerships in over 55 countries worldwide, with a continuous search for new distribution partners. The company’s main headquarters is located in Boulder, Colorado, while its manufacturing operations are based in Guadalajara, Mexico. Additionally, European marketing and sales activities are overseen from the headquarters in Roermond, Netherlands.
The significant decline in Sonoma Pharmaceuticals’ stock underscores the impact of the public offering announcement on investor sentiment and market performance.
