Praxis Precision Medicines Priced Its Underwritten Public Offering Of 55.15M Shares At $0.95 And A Pre-funded Warrant To Purchase Up To 7.05M Shares At $0.9499, For Gross Proceeds Of $59.1M
Portfolio Pulse from Benzinga Newsdesk
Praxis Precision Medicines priced its underwritten public offering of 55.15 million shares at $0.95 and a pre-funded warrant to purchase up to 7.05 million shares at $0.9499, raising gross proceeds of $59.1 million.
June 16, 2023 | 8:19 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Praxis Precision Medicines' public offering of 55.15 million shares at $0.95 and pre-funded warrant for 7.05 million shares at $0.9499 raises $59.1 million.
Praxis Precision Medicines has successfully priced its underwritten public offering and pre-funded warrant, raising $59.1 million in gross proceeds. This news is directly related to the company and its stock price, but the short-term impact is neutral as the market has likely already priced in the offering. The funds raised will be important for the company's operations and growth, but the immediate impact on the stock price is uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100