Janux Therapeutics Announces Pricing Of $60M Underwritten Offering Of 4,153,717 Shares Of Common Stock And Pre-Funded Warrants To Purchase 583,483 Shares At A Price Of $12.46/Share
Portfolio Pulse from Happy Mohamed
Janux Therapeutics, Inc. (NASDAQ:JANX) has announced the pricing of an underwritten offering of 4,153,717 shares of its common stock and pre-funded warrants to purchase 583,483 shares at a price of $12.46 per share. The gross proceeds from the offering are expected to be approximately $60 million. The offering is expected to close on July 19, 2023. BofA Securities, Inc. is acting as sole book-runner for the offering.
July 17, 2023 | 12:46 pm
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Janux Therapeutics is issuing an underwritten offering of over 4.1 million shares and pre-funded warrants to purchase additional 583,483 shares. This could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
The issuance of new shares and warrants by Janux Therapeutics could lead to dilution of existing shareholders' equity. This often results in a short-term decrease in the stock price as the market adjusts to the increased number of shares. However, the long-term impact will depend on how the company uses the proceeds from the offering.
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