Tango Therapeutics Has Announced 15.5M Private Investment In Public Equity Financing, At $5.15/Share With Gross Proceeds Of $80M
Portfolio Pulse from Benzinga Newsdesk
Tango Therapeutics has announced a private investment in public equity (PIPE) financing of 15.5 million shares at $5.15 per share, with gross proceeds expected to be $80 million.
August 10, 2023 | 11:43 am
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Tango Therapeutics' PIPE financing could potentially dilute existing shareholders' equity, but it also provides the company with additional capital for growth.
The announcement of PIPE financing often leads to a short-term negative reaction in the stock market due to potential dilution of existing shareholders' equity. However, the additional capital raised can be used for growth and expansion, which could have a positive impact in the long term.
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