ALX Oncology Has Priced Its Underwritten Public Offering Of Common Stock And Pre-funded Warrants. The Company Is Selling 7.37M Shares At $6.38/Share And Pre-funded Warrants To Purchase 1.25M Shares At $6.379/Pre-funded Warrant, With Gross Proceeds Of $55M
Portfolio Pulse from Benzinga Newsdesk
ALX Oncology has priced its underwritten public offering of common stock and pre-funded warrants. The company is selling 7.37 million shares at $6.38 per share and pre-funded warrants to purchase 1.25 million shares at $6.379 per pre-funded warrant, with gross proceeds of $55 million.
October 05, 2023 | 12:07 pm
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NEUTRAL IMPACT
ALX Oncology's public offering of common stock and pre-funded warrants could potentially dilute existing shareholders' equity, but also provides the company with additional capital.
The public offering could dilute the value of existing shares, which may negatively impact the stock price in the short term. However, the additional capital raised could be used for growth and expansion, which could have a positive impact in the long term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100