Athersys shares are trading lower after the company announced the pricing of its $3.5 million public offering of 10,937,500 shares of its common stock at $0.32 per share.
Portfolio Pulse from Benzinga Newsdesk
Athersys has announced the pricing of its $3.5 million public offering of 10,937,500 shares of its common stock at $0.32 per share. This has led to a decrease in the company's share price.
August 18, 2023 | 7:25 pm
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Athersys' stock price is trading lower after the company announced the pricing of its public offering. This could indicate a lack of investor confidence in the company's valuation.
The decrease in Athersys' stock price following the announcement of its public offering suggests that investors may be concerned about the company's valuation. The offering price of $0.32 per share is likely lower than what investors were expecting, leading to a sell-off of the stock.
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IMPORTANCE 80
RELEVANCE 100