Cadrenal Therapeutics Announces $7.5M Private Placement Of 4,285,715 Shares Of Common Stock At A Purchase Price Of $1.75/Share
Portfolio Pulse from Benzinga Newsdesk
Cadrenal Therapeutics has announced a private placement of 4,285,715 shares of common stock at a purchase price of $1.75 per share, raising $7.5 million in total.
July 12, 2023 | 7:25 pm
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NEGATIVE IMPACT
Cadrenal Therapeutics' private placement of shares could potentially dilute existing shareholders' equity, which may negatively impact the stock price in the short term.
The private placement of shares by Cadrenal Therapeutics increases the number of shares in circulation, which could dilute the value of existing shares. This could lead to a decrease in the stock price in the short term as the market adjusts to the increased share count.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100