Syndax Prices $200M Public Offering of 10,810,810 Common Shares At $18.50/Share
Portfolio Pulse from Benzinga Newsdesk
Syndax Pharmaceuticals has priced a public offering of 10,810,810 common shares at $18.50 per share, aiming to raise $200 million. The offering is anticipated to close on December 19, 2023, pending customary closing conditions.
December 15, 2023 | 7:31 am
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Syndax Pharmaceuticals is raising $200 million through a public offering of 10,810,810 shares at $18.50 each, expected to close by December 19, 2023.
The public offering of additional shares typically leads to dilution of existing shareholders' equity, which can result in a short-term negative impact on the stock price. The impact is significant due to the size of the offering relative to the company's market capitalization. However, the confidence in the analysis is not at 100 because the market's reception of the offering and the use of proceeds can also influence the stock's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100