Sagimet Biosciences Prices Public Offering Of 9M Series A Common Stock At $12.50/Share
Portfolio Pulse from Benzinga Newsdesk
Sagimet Biosciences has priced its public offering of 9 million shares of Series A common stock at $12.50 per share.
January 26, 2024 | 7:08 am
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Sagimet Biosciences' public offering of 9 million shares at $12.50 each could dilute existing shareholders but also raise significant capital.
The pricing of the public offering is likely to have a short-term negative impact on SGMT's stock price due to the dilution of existing shares. However, the capital raised could be used to fund operations and growth, which might be viewed positively in the long term.
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