Seelos Therapeutics shares are trading lower after the company announced the pricing of a $5.55 million public offering of 1,781,934 shares at $1.32 per share.
Portfolio Pulse from Benzinga Newsdesk
Seelos Therapeutics' stock trades lower following the announcement of a public offering priced at $1.32 per share, aiming to raise $5.55 million through the sale of 1,781,934 shares.
November 29, 2023 | 5:28 pm
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Seelos Therapeutics' stock price is expected to face downward pressure in the short term due to the dilutive effect of the new share offering priced at $1.32 per share.
The announcement of a public offering typically leads to a short-term decline in a company's stock price due to the dilution of existing shares. In Seelos Therapeutics' case, the offering price is also a key factor to consider, as it may be lower than the current market price, which can further contribute to the downward pressure on the stock.
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IMPORTANCE 75
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