Syros Pharmaceuticals Has Priced An Underwritten Offering Of 4.9M Shares At $4.42/Share, And Pre-funded Warrants To Purchase 5,242,588 Shares At $4.419 Per Pre-funded Warrant, With Gross Proceeds Of Approximately $45M
Portfolio Pulse from Benzinga Newsdesk
Syros Pharmaceuticals has announced an underwritten public offering of 4.9 million shares at $4.42 per share and pre-funded warrants to purchase an additional 5,242,588 shares at $4.419 each. The gross proceeds from the offering are expected to be approximately $45 million.
December 19, 2023 | 12:36 pm
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Syros Pharmaceuticals is raising approximately $45 million through a public offering of shares and pre-funded warrants, which may dilute current shareholders but provide capital for operations and growth.
The offering of additional shares and warrants typically leads to dilution of existing shareholders' equity, which can result in a negative short-term impact on the stock price. However, the capital raised is crucial for the company's operations and potential growth, which may be viewed positively in the long term.
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IMPORTANCE 85
RELEVANCE 100