TransCode Therapeutics shares are trading lower after the company priced its $8 million public offering of 15.7 million shares at $0.51/share.
Portfolio Pulse from Benzinga Newsdesk
TransCode Therapeutics has priced its public offering of 15.7 million shares at $0.51 per share, raising $8 million. Following the announcement, the company's shares are trading lower.
September 26, 2023 | 8:19 am
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TransCode Therapeutics' stock price is trading lower after the company priced its public offering at $0.51 per share.
The company's decision to price its public offering at $0.51 per share, which is likely lower than the current trading price, has led to a decrease in the stock price. This is because the new shares are being sold at a discount, which dilutes the value of existing shares.
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