Soleno Therapeutics Announced Today The Pricing Of The $60M Underwritten Public Offering Of 3M Shares At $20/Share; Options To Purchase Up To 450,000 Shares At Public Offering Price; Enters Into $60M Securities Purchase Agreement
Portfolio Pulse from Benzinga Newsdesk
Soleno Therapeutics has announced the pricing of its $60M underwritten public offering of 3M shares at $20 per share. The company also offers options to purchase up to 450,000 shares at the public offering price. Additionally, Soleno has entered into a $60M securities purchase agreement.
September 28, 2023 | 12:39 pm
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Soleno Therapeutics' public offering and securities purchase agreement could potentially dilute existing shareholders' equity, which may lead to a short-term decrease in stock price.
Public offerings often lead to dilution of existing shareholders' equity, which can result in a decrease in stock price. The impact is likely to be short-term as the market adjusts to the new shares. The securities purchase agreement also indicates a significant financial move by the company, which can influence investor sentiment.
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