Galectin Therapeutics Converts ~$105.8M Of Debt Into ~34.4M Shares At Blended Average Conversion Price Of ~$3.07 Per Share
Galectin Therapeutics Inc. (NASDAQ:GALT) ("Galectin" or the "Company"), a clinical-stage biopharmaceutical company developing therapies that target galectin-3 for the treatment of liver fibrosis and
Galectin Therapeutics turned money it owed (debt) into ownership pieces of the company (shares) instead of paying it back in cash. When a company does this, watch whether it helps them focus on their medicine or if it makes each share worth less because there are now more shares out there.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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