Cogent Biosciences Priced Upsized 12.5M Share Public Offering of Shares of Common Stock @$12/Share
Portfolio Pulse from Charles Gross
Cogent Biosciences has priced its upsized public offering of 12.5 million shares at $12 per share, expecting to raise $150 million. The proceeds will be used for development, regulatory, and commercial preparation activities, as well as working capital and general corporate purposes.
June 07, 2023 | 9:35 am
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Cogent Biosciences' upsized public offering of 12.5 million shares at $12 per share is expected to raise $150 million for development and corporate purposes.
The upsized public offering will provide Cogent Biosciences with additional capital for development and corporate purposes. While this may be seen as a positive development for the company, the dilution of shares may offset any potential short-term gains in the stock price. Therefore, the short-term impact on the stock price is neutral.
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