Inozyme Pharma, Inc. Announces $60M Proposed Offering Of Common Stock
Portfolio Pulse from Happy Mohamed
Inozyme Pharma, Inc. (NASDAQ:INZY) is commencing an underwritten public offering of $60M of shares of its common stock. The company also intends to grant the underwriters an option for a period of 30 days to purchase up to an additional 15% of the shares. The offering is subject to market and other conditions. BofA Securities, TD Cowen and Piper Sandler are acting as joint book-running managers for the offering.
July 27, 2023 | 9:13 pm
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Inozyme Pharma is commencing a $60M public offering of its common stock, which could dilute existing shares and potentially impact the stock price.
Public offerings often lead to dilution of existing shares, which can put downward pressure on the stock price. However, the actual impact will depend on market conditions and investor response to the offering.
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