Pulmatrix Inc. (NASDAQ: PULM) declared that it has executed the earlier publicized registered direct offering with various healthcare-focused institutional investors for the sale of 20,000,000 shares of its common stock. It has been disclosed that the gross profits of $4o million will be gained by the firm before subtracting the charges of the settlement agent and other expenditures of the offerings.

The only agent of the firm for this offering was H.C. Wainwright & Co. Pulmatrix Inc. revealed that it is planning to use the profit from the offering for working investment as well as general business objectives.

Shares of Pulmatrix (NASDAQ: PULM) went up 4.46% at $2.11 during the trading session of Tuesday at the time of writing. PULM has a day low and high range of $2.00 and $2.21, respectively. Its trading volume stood at 9.35 million in comparison with its average volume of 1.38 million. In the past 52-weeks of trading, PULM’s share oscillated between its 52-week low and high range of $0.90 and $3.04, respectively. It has a total market capitalization of $69.21 million at the time of writing.

Furthermore, the shares of common stock were provided by Pulmatrix in accordance with the provisions in a "shelf" registration declaration on Form S-3 earlier submitted with the SEC on March 12, 2019 and proclaimed useful by the SEC on March 15, 2019.