Why AlloVir Stock Is Tumbling After Hours
Portfolio Pulse from Adam Eckert
AlloVir Inc (NASDAQ:ALVR) shares are trading lower after the company proposed a public offering of $75 million worth of its common stock, with a 30-day option for underwriters to purchase up to an additional 15% of shares.
June 21, 2023 | 9:01 pm
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AlloVir's stock price is down after announcing a $75 million public offering of its common stock, potentially diluting existing shares.
AlloVir's announcement of a $75 million public offering of its common stock has led to a drop in its stock price. This is likely due to the potential dilution of existing shares, which can negatively impact the value of current shareholders' investments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100