Verastem Oncology Priced Its Underwritten Public Offering Of 7.18M Shares At $9.75/Share And Pre-funded Warrants To Purchase Up To 1.54M Shares At $9.749 Per Pre-funded Warrant, With Gross Proceeds Of Approximately $85M
Portfolio Pulse from Benzinga Newsdesk
Verastem Oncology has priced its underwritten public offering of 7.18 million shares at $9.75 per share and pre-funded warrants to purchase up to 1.54 million shares at $9.749 per pre-funded warrant, raising approximately $85 million in gross proceeds.
June 16, 2023 | 9:44 am
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Verastem Oncology's public offering and pre-funded warrants raise $85 million, potentially diluting existing shares.
The public offering and pre-funded warrants will increase the number of outstanding shares, which may lead to share dilution for existing shareholders. This could put downward pressure on the stock price in the short term.
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