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Investing

ADVENTRX Files To Raise Capital (ANX)

Photo of Jon C. Ogg
By Jon C. Ogg Published

ADVENTRX Pharmaceuticals, Inc. (AMEX: ANX) is trading lower after a filing from Thursday evening allowing the small company to raise capital.  Yahoo! Finance shows a market cap of only $18 million, but the SEC filing is meant to allow ADVENTRX to somehow raise up to $150 million with securities sales.

The filing specifies an allowance of one or more offerings of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock or debt securities, or any combination thereof.

No investment banking firms and no terms were shown at all in the filing, which is often the case for shelf registration statements.

ADVENTRX shares are down 3.6% at $0.655 on the news and the 52-week trading range is $0.56 to $4.21.

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Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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