Esperion Prices $85.1M Public Offering Of 56.7M Common Share At $1.50/Share
Portfolio Pulse from Benzinga Newsdesk
Esperion Therapeutics has announced the pricing of its public offering at $1.50 per share, aiming to raise $85.1 million through the issuance of 56.7 million common shares. The proceeds will be used to fund commercialization of NEXLETOL and NEXLIZET, research and development, working capital, capital expenditures, and other corporate purposes.
January 19, 2024 | 7:16 am
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Esperion Therapeutics is raising capital through a public offering of shares at a price of $1.50, which may dilute current shareholders but provides funding for its commercial and R&D activities.
The pricing of the public offering at $1.50 per share is likely to have a dilutive effect on existing shareholders in the short term, which typically leads to a negative impact on the stock price. However, the capital raised is crucial for the company's commercialization efforts and R&D, which could have positive long-term effects.
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IMPORTANCE 90
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