Immatics Prices $175M Public Offering Of 15,925,000 Ordinary Shares At $11/Share
Portfolio Pulse from Benzinga Newsdesk
Immatics has priced a public offering of 15,925,000 ordinary shares at $11 per share, expecting to raise gross proceeds of approximately $175 million. The offering is anticipated to close on January 22, 2024, pending customary closing conditions.
January 18, 2024 | 7:05 am
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Immatics is conducting a public offering of nearly 16 million shares at $11 each, with the goal of raising $175 million. The offering is scheduled to close on January 22, 2024.
The announcement of a public offering typically leads to short-term negative pressure on a company's stock price due to the dilution of existing shares. However, the capital raised can be beneficial for the company's long-term growth and development. The impact score is -1, reflecting the potential short-term negative sentiment among investors. The relevance is set at 100 as the news is directly about Immatics. The importance is 75, considering that the offering is significant but not uncommon for biotech companies seeking to raise capital. The confidence level is 90, acknowledging the general market reaction to such news while allowing for variations based on market conditions and investor perceptions.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100