Why HilleVax Shares Are Trading Lower
Portfolio Pulse from Henry Khederian
HilleVax Inc (NASDAQ:HLVX) shares are trading lower by 8.5% after the company announced the pricing of its public offering of 8 million shares at $12.50 per share. The gross proceeds are expected to be around $100 million, which will be used to fund the clinical development of HIL-214 and for working capital and general corporate purposes.
September 20, 2023 | 2:07 pm
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HilleVax's stock price is trading lower due to the announcement of its public offering, which is priced lower than its current trading price.
The company's shares are trading lower due to the announcement of its public offering, which is priced lower than its current trading price. This indicates that the market perceives the offering price as a devaluation of the company's stock, leading to a sell-off.
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