Milestone Scientific Inc. Announces Proposed Public Offering Of Common Stock; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Milestone Scientific Inc. (NYSE:MLSS) has announced an underwritten public offering of its common stock. The company will also grant underwriters a 45-day option to purchase up to an additional 15% of the shares. The size and terms of the offering have not been disclosed, and completion is subject to market conditions. Maxim Group LLC is the sole book-runner for the offering.
December 08, 2023 | 9:03 pm
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Milestone Scientific Inc. is initiating a public offering of common stock, which may dilute current shareholders and could lead to a short-term decrease in stock price.
Public offerings often result in dilution of existing shares, which can lead to a decrease in stock price in the short term. The lack of details on the size and terms adds uncertainty, potentially causing a negative investor sentiment. Maxim Group LLC's involvement as the sole book-runner is a positive aspect, but the overall impact is likely negative in the short term due to the anticipated dilution.
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