Orgenesis Announces Proposed Underwritten Public Offering; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Orgenesis Inc. (NASDAQ:ORGS) has announced the commencement of an underwritten public offering. The company plans to use the net proceeds from the offering for working capital and general corporate purposes. EF Hutton, a division of Benchmark Investments, LLC, is the sole book-running manager for the offering. The offering consists of units of common stock and warrants to purchase common stock.
October 30, 2023 | 9:00 pm
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Orgenesis Inc. has announced a public offering, which could potentially dilute existing shares. However, the funds raised will be used for working capital and general corporate purposes, which could strengthen the company's financial position.
Public offerings often lead to a short-term decrease in stock price due to the dilution of existing shares. However, the funds raised can strengthen the company's financial position, which could have a positive impact in the long term. The exact impact will depend on the details of the offering, which have not been disclosed yet.
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