Kymera Therapeutics Commences Public Offering Of $250M Of Shares Of Its Common Stock And, In Lieu Of Common Stock To Certain Investors, Pre-funded Warrants To Purchase Shares
Portfolio Pulse from Benzinga Newsdesk
Kymera Therapeutics has announced a public offering of $250 million of its common stock and pre-funded warrants. The offering is solely by Kymera, with an additional option for underwriters to purchase up to $37.5 million more of its common stock at the public offering price, minus discounts and commissions.
January 04, 2024 | 9:02 pm
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Kymera Therapeutics is raising capital through a public offering of common stock and pre-funded warrants worth $250M, with a potential additional $37.5M through underwriter options.
The announcement of a public offering often leads to a short-term decline in the stock price due to the potential dilution of existing shares. Investors may react negatively to the increase in the number of shares available, which can dilute earnings per share and ownership percentages. The option for underwriters to purchase additional shares could further increase the total number of shares, exacerbating these concerns.
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