Black Diamond Therapeutics Announces $75M Proposed Public Offering Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has announced a proposed public offering of $75 million of its common stock. The company also plans to grant underwriters a 30-day option to purchase up to an additional $11.25 million of its common stock. The completion and terms of the offering are subject to market and other conditions.
June 28, 2023 | 8:25 pm
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Black Diamond Therapeutics' proposed public offering of $75 million of its common stock could potentially dilute existing shareholders' equity, which may lead to a short-term decrease in the stock price.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a decrease in the stock price. However, the impact will depend on market conditions and investor sentiment towards the company.
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