Edesa Biotech Stock Sinks After Fresh Capital Raise - Edesa Biotech (NASDAQ:EDSA)

Edesa Biotech, Inc. (NASDAQ:EDSA) shares fell nearly 13% in Thursday premarket trading after the company priced a $25 million public stock offering.

Edesa Biotech shares fell 18.27% to $4.70 in Wednesday’s after-market session, putting the stock on traders’ radars.

The move followed the company’s Q3 earnings release, which came out four days earlier, according to Benzinga’s after-hours movers recap.

What Is Edesa Biotech’s Financing Deal?

Edesa is raising fresh capital via an equity offering of 3.87 million common shares and up to 675,000 pre-funded warrants, each paired with a warrant to buy one common share.