IPA Prices Public Offering Of 1.10M Common Shares At $1.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
ImmunoPrecise Antibodies Ltd. (IPA) has priced a public offering of 1.10 million common shares at $1.00 per share, expecting to raise approximately $1.1 million before underwriting discounts and estimated offering expenses.
December 06, 2023 | 12:11 pm
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NEUTRAL IMPACT
ImmunoPrecise Antibodies Ltd. is raising capital through a public offering of 1.10 million shares at $1.00 each, which is expected to generate $1.1 million in gross proceeds.
The pricing of the public offering at $1.00 per share is a direct action by ImmunoPrecise Antibodies Ltd. to raise capital. While this provides the company with additional funds, it may also dilute the value of existing shares. The impact on the stock price could be neutral in the short term as the market absorbs the new shares and evaluates the company's use of the raised capital.
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