Mirati Therapeutics Announces Pricing Of $300M Upsized Public Offering Of 9,669,631 Shares Of Common Stock At $27.80/Share
Portfolio Pulse from Benzinga Newsdesk
Mirati Therapeutics has announced the pricing of a $300M upsized public offering of 9,669,631 shares of its common stock at $27.80 per share. Additionally, pre-funded warrants to purchase 1,121,736 shares of common stock are being offered to certain investors at a price of $27.799 per pre-funded warrant.
August 09, 2023 | 6:27 am
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NEUTRAL IMPACT
Mirati Therapeutics' stock may experience short-term volatility due to the upsized public offering and the issuance of pre-funded warrants.
Public offerings often lead to short-term volatility in a company's stock price due to the sudden increase in supply of shares. The issuance of pre-funded warrants can also introduce uncertainty as it represents potential future dilution of the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100