05:53 AM EDT, 04/30/2024 (MT Newswires) -- TFF Pharmaceuticals ( TFFP ) said late Monday it priced a public offering of about 1.7 million common shares and warrants to purchase up to about 1.7 million shares at a combined price of $2.875 per share and accompanying warrant.

The warrants will have an exercise price of $2.75 per share exercisable immediately upon issuance and expire five years from the date of issuance, the company said.

Gross proceeds are estimated to be about $4.8 million.

Net proceeds from the offering, which is set to close around Wednesday, will be used for working capital and general corporate purposes, the company said.

Shares of the company fell more than 5% in recent premarket activity Tuesday.

Price: 2.57, Change: -0.14, Percent Change: -5.17