|MDNA once again from the "go figure" dept comes this bit of news|
Medicenna Therapeutics Corp. has closed its previously announced marketed underwritten public offering of units of the company in Canada and in the United States at a price to the public of $1.50 (U.S.) per unit for aggregate gross proceeds to the company of approximately $20-million (U.S.), before deducting underwriting commissions and offering expenses, and excluding any proceeds the company may receive from the exercise of the underlying warrants. Pursuant to the Offering, the Company issued a total of 13,333,334 Units.
The stock is trading at $1.30 Canadian - the raise was done at $1.91 Canadian. Got to wonder why the 60 cent discount. So is the stock a good deal and going to run or is there bad news in the pipe? At this stage what is happening makes little sense.