Pulse Biosciences said it will redeem the remaining common stock warrants from its July 3, 2024 rights offering after the shares’ volume-weighted average price stayed above the $22 threshold for 20 straight trading days.
The company said the average VWAP over that stretch was $25.17. The warrants can still be exercised until 5 p.m. Eastern on July 13, 2026, at an exercise price of $11.00 per share. Any warrants not exercised by then will be redeemed for $0.01 per warrant share.
Pulse Biosciences said the rights offering generated $60 million in gross proceeds in July 2024. Since then, the company has collected another $63.7 million from the redemption of the 150% warrants and the 200% warrants so far. If all of the remaining 200% warrants are exercised before the redemption date, Pulse expects to receive an additional $2.1 million.
The first tranche of warrants from the offering, the 150% warrants, was redeemed in February 2025 and is no longer outstanding.
Pulse Biosciences said it intends to send the irrevocable notice of redemption on or about June 10, 2026. Following these announcements, the company's shares moved 3.54%, and are now trading at a price of $25.72. If you want to know more, read the company's complete 8-K report here.
