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      Pulse Biosciences, Inc. (PLSE) Stock Dips Following Announcement of USD$50 Million Private Placement - Stocks Telegraph

      By ST Staff

      Published on

      July 2, 2021

      7:11 PM UTC

      Pulse Biosciences, Inc. (PLSE) Stock Dips Following Announcement of USD$50 Million Private Placement - Stocks Telegraph

      Pulse Biosciences, Inc. (PLSE) stock prices were down by 11.58% some time after market trading commenced on July 2nd 2021, bringing the price per share down to USD$18.41 early on in the trading day.

      Stock Purchase Agreement

      July 1st 2021 saw the company announce that it had entered into a stock purchase agreement with Robert Duggan, the Chairman of PLSE’s Board of Directors. The agreement will see Mr. Duggan purchase 3,048,780 shares of the company’s common stock, with each stock being priced at USD$16.40 per share, which is the last reported sale price of the shares as of the market closing on June 30th 2021.

      Details of the Agreement

      Any debt owed to Mr. Duggan by the company as per the loan agreement from March 11th 2021 will be paid through the cancellation and extinguishment of the debt. Rather, Mr. Duggan will be compensated with common stock shares in a private placement that will write-offUSD$41 million in principal balance and USD$0.6 million in accrued and unpaid interest. As per the private placement, Mr. Duggan will invest new capital in the amount of USD$8.4 million into the company.

      CellFX Milestone

      The company announced on June 30th 2021 that the first patient in Canada had been successfully treated with PLSE’s proprietary CellFX procedure. Marking the first commercial use of the ceillular-focused CellFX System in Canada, the treatment is proven to clear common benign lesions, such as sebaceous hyperplasia, seborrheic keratosis, and cutaneous non-genital warts. CellFX further expands the company’s Controlled Launch program that is currently ongoing in both Europe and the United States.

      Continued Development

      PLSE continues to build its global foundation of key opinion leader adoption of the unique NPS technology. To this end, it is continuing its strategic rollout with thought-leading skin specialists from across Canada aiming to expand the clinical and commercial potential of the CellFX System for multiple aesthetic and therapeutic applications.

      Future Outlook for PLSE

      Armed with the influx of capital generated from their private placement, PLSE is poised to capitalize on the proliferation of its CellFX system. Investors are hopeful that the company will be able to consolidate and expand its market footprint to usher in significant and sustained increases in shareholder value.

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