Dyne Therapeutics Prices $300M Public Offering Of 17.15M Common Stock At $17.50/Share
Portfolio Pulse from Benzinga Newsdesk
Dyne Therapeutics has announced the pricing of its public offering of 17.15 million shares of common stock at $17.50 per share, with expected gross proceeds of approximately $300.1 million. The offering is expected to close around January 9, 2024, with all shares being sold by Dyne.
January 05, 2024 | 6:31 am
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Dyne Therapeutics' public offering of 17.15 million shares at $17.50 each aims to raise $300.1 million, with the offering closing by January 9, 2024.
The announcement of a public offering typically leads to short-term downward pressure on a company's stock price due to the dilutive effect of increasing the number of shares outstanding. Investors may react negatively to the dilution of their holdings and the potential for share price to decrease as supply outpaces demand.
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