Sagimet Biosciences Begins Public Offering Of 9M Shares Of Its Series A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Sagimet Biosciences has announced a public offering of 9 million shares of its Series A common stock. The company will also grant underwriters a 30-day option to buy up to an additional 1.35 million shares.
January 23, 2024 | 10:55 pm
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Sagimet Biosciences is offering 9 million shares of Series A common stock, potentially diluting current shareholders and possibly impacting the stock price negatively in the short term.
Public offerings often lead to dilution of existing shares, which can result in a decrease in stock price as the market absorbs the additional supply. The option for underwriters to purchase additional shares could further increase this dilution effect.
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