Nexentis Technologies Slides on Private Offerings

Dow Jones

Jun 23

By Dean Seal

Shares of Nexentis Technologies sank after the company said it would sell shares to certain investors at about $7 apiece, below Monday's closing price.

The stock dropped 44%, to $6.90, after hours, giving back much of the surge it got during the trading day that saw it close at $13. It finished trading last week at $5.08.

Investors rallied behind the stock after Nexentis said on Monday morning that its subsidiary was working with artificial-intelligence research lab Boltz to accelerate the discovery of new cancer-fighting small-molecule drug candidates.

After the closing bell, Nexentis said it agreed to issue and sell nearly 411,000 shares to certain investors in a direct offering at a price of just under $7.06 a share. It has also agreed to issue those investors another roughly 411,000 warrants, each of which can be exercised to buy a share at just under $7.06.

The company expects to receive about $2.9 million in gross proceeds from the offerings, which is set to close on Wednesday.

Nexentis currently only has about 1 million shares outstanding, according to FactSet.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 22, 2026 17:41 ET (21:41 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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