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Tonix Pharmaceuticals to sell 7M shares of its common stock and warrants to purchase up to 7M shares in a public offering at a combined offering price of $1.00 per share. The gross proceeds of the offering will be approximately $7 million. The warrants will be exercisable starting from the issuance date and expire five years after the issuance date. The offering is expected to close on or about August 1, 2023. Net proceeds will be used for working capital, general corporate purposes, manufacturing and research facilities, and the acquisition or licensing of approved products and in-development products. Shares down 39% during premarket hours.