eFFECTOR Therapeutics Announces $7.5M Registered Direct Offering Of 11,450,382 Shares Of Common Stock At A Price Of $0.655/Share, Priced At-The-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
eFFECTOR Therapeutics announced a $7.5M registered direct offering priced at-the-market. The company plans to use the proceeds for general corporate purposes.
May 26, 2023 | 1:08 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
eFFECTOR Therapeutics' $7.5M registered direct offering may lead to short-term dilution for existing shareholders.
The registered direct offering priced at-the-market may lead to short-term dilution for existing shareholders as new shares are issued. This could put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100