Novadel Stock Offering & Dilution

December 15, 2006 · Filed Under General 

by Andrew Vaino

In a November 29 post right here I suggested that a follow-on stock offering for Novadel (NVD) would not be a surprise. This afternoon Novadel announced it has issued 9,823,938 shares at $1.45 together with 0.4 warrants per share with an exercise price of $1.70.

I hope people followed my advice of a stop sell order at $1.60. I remain convinced NVD is an excellent investment, and am not deterred at all by this.

(Note: Novadel is a BHI Stock Pick)

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Related BHI aricles:

- Biotech Penny Stocks Novadel and Insmed
- NovaDel’s Oral Spray Technology Looks Promising

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