Lyra Therapeutics Plans $50M Private Placement
Portfolio Pulse from Benzinga Newsdesk
Lyra Therapeutics plans a $50M private placement, issuing 17.7 million shares of common stock and pre-funded warrants to purchase 2.4 million shares at $0.001 per share, and common stock purchase warrants to buy 10 million shares at $2.673 per share.
May 26, 2023 | 11:59 am
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Lyra Therapeutics' $50M private placement includes issuing 17.7 million common stock shares and warrants to purchase 12.4 million shares.
The private placement will raise capital for Lyra Therapeutics, which may positively impact the company's stock price in the short term. The issuance of new shares and warrants can be seen as a sign of confidence in the company's growth prospects, attracting more investors and potentially driving the stock price up.
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