BioRestorative Therapies, Inc. (NASDAQ:BRTX) shares are trading lower by 55% to $1.56 during Tuesday’s session following Monday’s surge after the company announced agreements with certain holders of its existing warrants to exercise them at a reduced price of $2.33 per share, totaling approximately $8.1 million in gross proceeds.
This exchange involves issuing new warrants. The transaction was structured as an at-market transaction under Nasdaq rules, with Roth Capital Partners serving as the company’s financial advisor.
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According to data from Benzinga Pro, BRTX has a 52-week high of $7.13 and a 52-week low of $1.40.
