Vaccinex shares are trading lower after the company announced the pricing of a $9.6 million public offering of 9.6 million shares and warrants at $1 per share.
Portfolio Pulse from Benzinga Newsdesk
Vaccinex has announced the pricing of a $9.6 million public offering of 9.6 million shares and warrants at $1 per share. This has led to a decrease in the company's share price.
September 29, 2023 | 2:39 pm
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NEGATIVE IMPACT
Vaccinex's share price is expected to decrease in the short term due to the announcement of a public offering at a price of $1 per share.
The announcement of a public offering at a price lower than the current market price often leads to a decrease in the share price as it dilutes the value of existing shares. This is likely to have a negative impact on Vaccinex's share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100