Axsome Therapeutics Announces Pricing Of Public Offering Of $225M Of 3M Shares Of Common Stock At A Price Of $75/Share
Portfolio Pulse from Happy Mohamed
Axsome Therapeutics, Inc. (NASDAQ:AXSM) has announced the pricing of a public offering of 3 million shares of its common stock at $75 per share, expected to raise $225 million. The proceeds will be used to advance its late-stage pipeline, fund clinical programs, products, and product candidates, expand commercialization efforts, and for other corporate purposes. The offering is expected to close on June 30, 2023.
June 28, 2023 | 1:29 pm
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Axsome Therapeutics' public offering of 3 million shares at $75 per share is expected to raise $225 million. This could potentially dilute existing shareholders' equity but will provide the company with capital to advance its late-stage pipeline and expand commercialization efforts.
The public offering could dilute existing shareholders' equity, which may negatively impact the stock price in the short term. However, the capital raised will be used to advance the company's late-stage pipeline and expand commercialization efforts, which could have positive long-term effects.
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