Catalyst Pharmaceuticals, Inc. Announces Pricing Of $150M Public Offering Of 10M Shares Of Common Stock At A Price Of $15/Share
Portfolio Pulse from Benzinga Newsdesk
Catalyst Pharmaceuticals, Inc. (CPRX) has priced a public offering of 10 million shares at $15 each, aiming to raise $150 million before fees. The underwriters have an option to buy an additional 1.5 million shares. The offering is set to close around January 9, 2024. Catalyst intends to use the proceeds for potential acquisitions of new product candidates and general corporate purposes. BofA Securities, Citigroup, Piper Sandler & Co., Cantor, and Truist Securities are the bookrunners, with H.C. Wainwright & Co. and Oppenheimer & Co. as co-lead managers.
January 05, 2024 | 1:09 pm
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NEUTRAL IMPACT
Catalyst Pharmaceuticals is raising $150M through a public offering of 10M shares at $15 each, with a potential additional 1.5M shares for underwriters. The funds are earmarked for new product acquisitions and corporate purposes.
Public offerings often dilute existing shares, which can lead to a short-term negative impact on the stock price. However, the intended use of proceeds for growth initiatives like acquiring new product candidates could be viewed positively by investors. The neutral score reflects this balance between dilution concerns and potential growth.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100