CymaBay Prices $225m Upsized Public Offering Of 12,551,080 Common Stock At $17.13/Share And 583,771 Pre-Funded Warrants At $17.1299/Underlying Share
Portfolio Pulse from Benzinga Newsdesk
CymaBay Therapeutics has priced an upsized public offering of 12,551,080 common stocks at $17.13 per share and 583,771 pre-funded warrants at $17.1299 per underlying share, raising $225 million.
September 12, 2023 | 6:57 am
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CymaBay Therapeutics' upsized public offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
The upsized public offering increases the number of outstanding shares, which can dilute the value of existing shares. This often leads to a short-term decrease in stock price as the market adjusts to the new share count.
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