Edgewise Therapeutics Announces Pricing Of $240M Underwritten Offering Of 21,818,182 Shares At $11.00/Share
Portfolio Pulse from Benzinga Newsdesk
Edgewise Therapeutics has announced the pricing of its underwritten public offering of 21,818,182 shares at a price of $11.00 per share, aiming to raise $240 million.
January 19, 2024 | 1:41 pm
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Edgewise Therapeutics is expected to raise $240 million through a public offering of 21,818,182 shares priced at $11.00 each.
The announcement of a new share offering typically leads to dilution of existing shares, which can result in a short-term negative impact on the stock price. Given the size of the offering relative to the company's market capitalization, this event is highly relevant and important to current and potential investors. The confidence level is high due to the clear details provided in the announcement.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100