Sagimet Biosciences shares are trading lower after the company priced its public offering of 9 million shares of its Series A common stock at $12.50 per share.
Portfolio Pulse from Benzinga Newsdesk
Sagimet Biosciences has priced its public offering of 9 million shares at $12.50 per share, leading to a decline in its stock price.
January 26, 2024 | 1:48 pm
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Sagimet Biosciences' stock price is trading lower due to the pricing of its public offering at $12.50 per share for 9 million shares.
The pricing of Sagimet Biosciences' public offering is likely to have a dilutive effect on existing shares, which typically leads to a short-term decline in stock price as supply increases. Investors may view the offering price as a benchmark, which could put downward pressure on the stock in the short term.
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