Bridgebio Pharma Announced A Private Placement Of Around 9.2M Shares At The Closing Price Of $27.27 Per Share With Gross Proceeds Of Approximately $250M
Portfolio Pulse from Benzinga Newsdesk
BridgeBio Pharma has announced a private placement of approximately 9.2 million shares at a closing price of $27.27 per share. The gross proceeds from this placement are expected to be around $250 million.
September 25, 2023 | 11:33 am
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BridgeBio Pharma's private placement of 9.2 million shares could potentially dilute existing shareholders' equity, which may negatively impact the stock price in the short term.
The private placement of 9.2 million shares by BridgeBio Pharma could lead to dilution of existing shareholders' equity. This is because the number of outstanding shares increases, which can lower the earnings per share and the stock's price. Therefore, the short-term impact on the stock price could be negative.
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