Iovance Biotherapeutics Prices Its $150M Public Offering At $7.50 Per Share
Portfolio Pulse from Benzinga Newsdesk
Iovance Biotherapeutics has priced its public offering at $7.50 per share, expecting to raise approximately $150 million in gross proceeds before deductions for underwriting discounts, commissions, and other estimated offering expenses.
July 11, 2023 | 5:49 am
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NEUTRAL IMPACT
Iovance Biotherapeutics' public offering at $7.50 per share could potentially dilute existing shareholders' equity, but also provide the company with additional capital for growth and operations.
The public offering could dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the additional capital raised could be used for growth and operational activities, which could have a positive impact in the long term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100