On September 29, Portage Biotech Inc Entered Into A Securities Purchase Agreement; Pursuant To Purchase Agreement, Co Agreed To Offer And Sell In Registered Direct Offering 1.97M Shares Of Co's Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Portage Biotech Inc has entered into a securities purchase agreement to offer and sell 1.97 million of its ordinary shares in a registered direct offering.
October 03, 2023 | 10:03 pm
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NEGATIVE IMPACT
Portage Biotech Inc's decision to sell 1.97 million shares could potentially dilute existing shareholders' equity.
The decision by Portage Biotech Inc to sell additional shares could lead to dilution of existing shareholders' equity. This could potentially lead to a decrease in the stock price in the short term as the market adjusts to the increased supply of shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100