Verastem Oncology shares are trading lower after the company priced its public offering of 7.2M shares at $9.75/share and pre funded warrants to purchase up to 1.5M shares at $9.749/warrant.
Portfolio Pulse from Benzinga Newsdesk
Verastem Oncology has priced its public offering of 7.2M shares at $9.75/share and pre-funded warrants to purchase up to 1.5M shares at $9.749/warrant, causing its shares to trade lower.
June 16, 2023 | 9:47 am
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Verastem Oncology's share price is trading lower due to the pricing of its public offering and pre-funded warrants.
The company's decision to price its public offering of 7.2M shares at $9.75/share and pre-funded warrants to purchase up to 1.5M shares at $9.749/warrant has led to a decrease in its share price. This is because the pricing is perceived as dilutive to existing shareholders, causing the stock to trade lower in the short term.
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