Guardant Health shares are trading higher. The company announced a $90.7 million registered direct offering with Baillie Gifford of 3,387,446 shares of its common stock at $26.77 per share.
Portfolio Pulse from Benzinga Newsdesk
Guardant Health's stock is trading higher following the announcement of a $90.7 million registered direct offering. Baillie Gifford will purchase 3,387,446 shares of Guardant Health's common stock at $26.77 per share.
December 21, 2023 | 4:44 pm
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Guardant Health announced a significant direct offering with Baillie Gifford, selling over 3.3 million shares at $26.77 each, which has led to an increase in its stock price.
The announcement of a new capital infusion through a direct offering typically indicates investor confidence and can lead to a short-term increase in stock price due to the perceived endorsement by a significant investor like Baillie Gifford.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100