Astria Therapeutics Prices $64M Underwritten Stock And Warrants Offering
Portfolio Pulse from Benzinga Newsdesk
Astria Therapeutics has priced its underwritten stock and warrants offering at $64M. The offering includes 8,253,895 shares of common stock and common stock warrants to purchase an aggregate of 6,190,418 shares. It also includes pre-funded warrants to purchase up to an aggregate of 1,571,093 shares and common stock warrants to purchase up to an aggregate of 1,178,320 shares. Each share and warrant are being sold together at a combined public offering price of $6.514, and each pre-funded warrant and accompanying common stock warrant are being sold together at a combined public offering price of $6.513.
October 12, 2023 | 6:47 am
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Astria Therapeutics' stock and warrants offering could potentially dilute the value of existing shares, which may lead to a short-term decrease in stock price.
The offering of new shares and warrants by Astria Therapeutics increases the total number of shares in circulation. This could dilute the value of existing shares, leading to a potential decrease in the stock price in the short term. However, the funds raised could be used for beneficial company activities, which may offset this impact in the long term.
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