Investors looking for major movers this morning could consider having a closer look at the Brooklyn ImmunoTherapeutics (NYSEAMERICAN:BTX) stock. This morning the stock has soared by 35% after the company announced that it signed a stock purchase agreement with Lincoln Park Capital.
As per the terms of the agreement, Lincoln might purchase Brooklyn stock to the tune of $20 million. However, that is not all. The two parties also signed a registration rights agreement.
Due to the registration rights agreement, Brooklyn has agreed to submit a registration statement to the United States Securities and Exchange Commission which is going to cover the shares that might be resold under the original purchase agreement.
Over the course of the past month, the Brooklyn ImmunoTherapeutics stock has soared by 1200% and now there is speculation if it is going to be the next GameStop. It should be noted that the Brooklyn ImmunoTherapeutics stock had started trading only in March this year.
Finance and Entertainment Reporter
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