Crinetics Pharmaceuticals Prices Upsized $350M Public Offering Of 11,441,648 Common Shares At $30.59/Share
Portfolio Pulse from Benzinga Newsdesk
Crinetics Pharmaceuticals has priced an upsized public offering of 11,441,648 common shares at $30.59 per share, raising $350 million.
September 13, 2023 | 6:31 am
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Crinetics Pharmaceuticals' 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 shares in circulation, 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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