Ultragenyx Announces Up To $300M Proposed Public Offering Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Ultragenyx Pharmaceutical Inc. has announced a proposed public offering of common stock worth up to $300 million. The proceeds will be used for general corporate purposes.
October 17, 2023 | 8:03 pm
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Ultragenyx's proposed public offering of common stock could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
Public offerings increase the number of outstanding shares, which can dilute the value of existing shares. This often leads to a short-term decrease in stock price as the market adjusts to the new share count. However, the long-term impact will depend on how the company uses the raised capital.
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