TransCode Therapeutics Prices $8M Public Offering Of 15.7M Common Shares At $0.51/Share
Portfolio Pulse from Benzinga Newsdesk
TransCode Therapeutics, Inc. (NASDAQ:RNAZ) has announced the pricing of its underwritten public offering of 15.7 million shares of its common stock at $0.51 per share. The offering also includes pre-funded warrants.
September 26, 2023 | 6:17 am
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TransCode Therapeutics is offering 15.7 million shares at $0.51 per share, which may dilute existing shareholders' equity.
The public offering of a large number of shares often leads to dilution of existing shareholders' equity, which can negatively impact the stock price in the short term. However, the funds raised can be used for company growth, which may have a positive impact in the long term.
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