Fortress Biotech Announces Pricing Of 3,303,305 Share Registered Direct Offering At $3.33 Per Share And Accompanying Warrant
Portfolio Pulse from Benzinga Newsdesk
Fortress Biotech has announced a registered direct offering of 3,303,305 shares at a price of $3.33 per share. The offering also includes an accompanying warrant for investors.
December 29, 2023 | 1:23 pm
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Fortress Biotech is conducting a registered direct offering of 3,303,305 shares at $3.33 per share, which may dilute current shareholders but provide the company with additional capital.
The announcement of a new share offering typically leads to short-term downward pressure on a company's stock price due to the dilution of existing shares. However, the additional capital raised can be positive in the long term if used effectively.
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