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GeoVax Labs, Inc. (NASDAQ:GOVX) stock is pulling back in premarket trading on Tuesday after surging 79.67% to close sharply higher on Monday.
The stock is falling after the company announced a $3 million private placement of stock and warrants, fueling investor concerns about shareholder dilution. The sell-off also reflects profit-taking following the stock’s massive 80% rally in the previous session.
Private Placement Details
GeoVax Labs said Monday it priced a $3 million private placement financing with existing institutional investors. The deal includes about 2.03 million shares, or equivalents, along with Series A and Series B warrants tied to an additional 4.05 million shares, all with an …
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