Immunovant Prices $450M Common Share offering At $38/Share, With 7,370,000 shares offered To public and 4,473,684 to Roivant Sciences
Portfolio Pulse from Benzinga Newsdesk
Immunovant has priced its common share offering at $38 per share. The company is offering 7,370,000 shares to the public and 4,473,684 shares to Roivant Sciences, totaling $450M.
September 28, 2023 | 6:56 am
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Immunovant's common share offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
The offering of new shares by Immunovant could dilute the value of existing shares, which often leads to a decrease in stock price in the short term. However, the funds raised could be used for beneficial company growth in the long term.
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