Essa Pharma Announced It May Offer And Sell Common Shares Having An Aggregate Offering Price Of Up To $50M From Time To Time Through Jefferies
Portfolio Pulse from Charles Gross
Essa Pharma has announced its intention to offer and sell common shares with an aggregate offering price of up to $50M. The sales will be conducted from time to time through Jefferies.
November 06, 2023 | 11:10 am
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Essa Pharma's announcement of a potential $50M share offering could dilute existing shareholders' equity, potentially leading to a short-term decrease in stock price.
The announcement of a new share offering often leads to a short-term decrease in a company's stock price due to the potential dilution of existing shareholders' equity. As such, Essa Pharma's announcement could negatively impact its stock price in the short term.
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