VolitionRx Limited Announces Pricing Of $16.5MUnderwritten Public Offering Of 13M Shares Of Common Stock At A Price Of $1.27/Share
Portfolio Pulse from Happy Mohamed
VolitionRx Limited (NYSE:VNRX) has priced an underwritten public offering of 13 million shares of common stock at $1.27 per share, expecting to raise $16.5 million in gross proceeds. The company plans to use the funds for research, product development, clinical studies, commercialization, working capital, and potential strategic acquisitions.
June 01, 2023 | 1:30 pm
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VolitionRx Limited (VNRX) announces a $16.5M public offering of 13M shares at $1.27/share, which may dilute existing shares but provide funds for growth and potential acquisitions.
The public offering will dilute existing shares, which may negatively impact the stock price in the short term. However, the funds raised will be used for growth initiatives and potential acquisitions, which could have a positive impact on the company's long-term prospects. Therefore, the short-term impact is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100