Mirati Therapeutics Announces Proposed $250M Public Offering Of Common Stock, And, To Certain Investors, Pre-funded Warrants To Purchase Shares Of Common Stock
Portfolio Pulse from Happy Mohamed
Mirati Therapeutics, Inc. (NASDAQ:MRTX) plans to offer and sell $250 million of its common stock, and pre-funded warrants to certain investors, in a public offering. The purchase price of each pre-funded warrant will equal the price per share at which shares of common stock are being sold to the public in this offering, minus $0.001. The company also expects to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of shares at the public offering price, less the underwriting discounts and commissions. Goldman Sachs & Co. LLC and Leerink Partners LLC are managing the offering.
August 08, 2023 | 8:57 pm
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Mirati Therapeutics is planning a public offering of $250 million of its common stock and pre-funded warrants. This could potentially dilute existing shareholders' equity, but could also provide the company with needed capital for growth and development.
Public offerings often lead to a short-term decrease in stock price due to dilution of shares. However, the capital raised can be used for growth and development, which could potentially lead to a long-term increase in stock price. The impact on the stock price will depend on how the market perceives the use of the raised capital.
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