Praxis Precision Medicines shares are trading lower after the company priced its public offering of 55.15M shares at $0.95/share, and pre funded warrant at $0.9499 with gross proceeds of $59.1M
Portfolio Pulse from Benzinga Newsdesk
Praxis Precision Medicines priced its public offering of 55.15M shares at $0.95/share and pre-funded warrant at $0.9499, raising $59.1M in gross proceeds. Shares are trading lower following the announcement.
June 16, 2023 | 8:25 am
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Praxis Precision Medicines' stock price is trading lower after pricing its public offering of 55.15M shares at $0.95/share, raising $59.1M.
Praxis Precision Medicines' stock price is trading lower due to the dilutive effect of the public offering. The company issued 55.15M shares at $0.95/share, which is lower than the current market price, leading to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100