Curis' Stockholders Approved Amendment To Increase The Number Of Authorized Shares Of The Company's Capital Stock From 232,812,500 To 460,625,000 And Common Stock From 227,812,500 to 455,625,000, With The Amendment Being Filed And Effective On Sept. 26
Portfolio Pulse from Benzinga Newsdesk
Curis' stockholders have approved an amendment to increase the number of authorized shares of the company's capital stock from 232,812,500 to 460,625,000 and common stock from 227,812,500 to 455,625,000. The amendment was filed and became effective on September 26, according to an SEC filing.
September 28, 2023 | 1:05 pm
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The approval of the amendment to increase the number of authorized shares could potentially dilute the value of existing shares, which may negatively impact the stock price in the short term.
Increasing the number of authorized shares often leads to dilution of the value of existing shares. This is because the earnings per share (EPS) decreases as the number of shares increases, assuming the company's earnings remain constant. This could potentially lead to a decrease in the stock price.
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