Relay Therapeutics Has Announced Private Placement Financing With NexTech To Sell 2.5M Shares At $12.00/Share, With Gross Proceeds Of $30M
Portfolio Pulse from Benzinga Newsdesk
Relay Therapeutics has entered into a private placement financing agreement with NexTech, agreeing to sell 2.5 million shares at a price of $12.00 per share. This deal will result in gross proceeds of $30 million for Relay Therapeutics.
January 08, 2024 | 12:06 pm
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POSITIVE IMPACT
Relay Therapeutics' agreement to sell 2.5 million shares at $12.00 each to NexTech for $30 million in gross proceeds could provide the company with additional capital for operations, research, and development.
The private placement is likely to have a positive short-term impact on RLAY's stock price as it provides the company with significant capital, which can be used to fund ongoing research and operations, potentially leading to positive developments for the company. However, the issuance of new shares could also dilute existing shareholders' equity, which is a factor to consider.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100