Arcutis Biotherapeutics Prices $100M Public Offering Of 32.5M Common Shares At $2.50/Share
Portfolio Pulse from Benzinga Newsdesk
Arcutis Biotherapeutics is selling 32.5 million shares of common stock at $2.50 per share and pre-funded warrants to purchase 7.5 million shares of common stock at $2.4999 per warrant. The offering is expected to raise $100 million.
October 20, 2023 | 6:41 am
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Arcutis Biotherapeutics is raising $100 million through a public offering of shares and pre-funded warrants. This could dilute existing shareholders' equity.
The public offering will increase the number of outstanding shares, which could dilute the value of existing shares. However, the funds raised could be used to fuel growth, which could offset the dilution effect in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100