Moonlake Immunotherapeutics Has Its Upsized Underwritten Public Offering Of 8M Shares At 50/Share, With Gross Proceeds Of $400M
Portfolio Pulse from Benzinga Newsdesk
Moonlake Immunotherapeutics has upsized its underwritten public offering to 8 million shares at $50 per share, raising gross proceeds of $400 million.
June 28, 2023 | 9:02 am
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Moonlake Immunotherapeutics' upsized public offering could lead to dilution of existing shares, potentially impacting the stock price.
Moonlake Immunotherapeutics' decision to upsize its public offering means more shares will be available in the market. This could lead to dilution of existing shares, which may put downward pressure on the stock price in the short term. However, the raised capital could be used for beneficial company developments, which may have a positive impact in the long term.
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