India, July 22 -- China Pharma Holdings, Inc. (CPHI) shares plunged $6.14, or 75.99 percent, to $1.96 on Wednesday, after the specialty pharmaceutical company priced a registered direct offering of 2.5 million common shares at $2.00 per share.
The stock opened at $2.89 and traded between $1.80 and $2.87 during the session on the New York Stock Exchange. It has traded in a 52-week range of $0.38 to $19.19. Trading volume reached 10.22 million shares, compared with an average daily volume of 3.88 million shares.
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1568189509843-0'); });
The offering is expected to generate gross proceeds of approximately $5 million, before placement agent fees and other expenses. China Pharma said...