Synlogic Has Priced The Public Offering Of 7.4M Shares And Warrants To Purchase Up To 7.4M Shares At A Combined Price Of $2.84, With Gross Proceeds Of Approximately $21M
Portfolio Pulse from Benzinga Newsdesk
Synlogic has priced its public offering of 7.4 million shares and warrants to purchase up to 7.4 million shares at a combined price of $2.84. The gross proceeds from this offering are expected to be approximately $21 million.
September 29, 2023 | 11:20 am
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Synlogic's public offering of 7.4 million shares and warrants could dilute existing shareholders' equity, potentially leading 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. Given the size of the offering, the impact on Synlogic's stock price could be significant in the short term.
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