Longboard Pharmaceuticals Commenced A $150M Underwritten Public Offering; Expects To Grant The Underwriters A 30-Day Option To Purchase Up To An Additional ~$22.5M Of Shares Of Voting Common Stock
Portfolio Pulse from Benzinga Newsdesk
Longboard Pharmaceuticals has initiated a $150M underwritten public offering and may allow underwriters a 30-day option to buy up to an additional $22.5M of common stock. Completion, size, and terms of the offering are uncertain.
January 02, 2024 | 9:02 pm
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Longboard Pharmaceuticals is raising capital through a $150M public offering, with a possible extension of $22.5M, but there's no certainty on the final terms or completion.
The announcement of a public offering can have a mixed impact on a company's stock price. On one hand, it can dilute existing shares, potentially leading to a short-term price drop. On the other hand, the capital raised can be used for growth, which might be viewed positively by investors. The lack of details on the completion and terms adds uncertainty, making it difficult to predict the exact short-term impact.
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