Vaxcyte Prices $750M Public Offering Of 10,937,500 Common Shares At $64/Share
Portfolio Pulse from Benzinga Newsdesk
Vaxcyte, Inc. (NASDAQ:PCVX) has priced a public offering of 10,937,500 common shares and pre-funded warrants to purchase an additional 781,250 shares at $64 per share and $63.999 per warrant, respectively. The exercise price for the warrants is $0.001 per share.
January 31, 2024 | 7:37 am
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Vaxcyte, Inc. is conducting a large public offering, which could dilute existing shares but also provide significant capital for the company's vaccine development programs.
Public offerings often lead to short-term negative pressure on a stock's price due to the dilution of existing shares. However, the capital raised is crucial for the company's growth and development of its vaccine programs. The impact is scored as negative in the short term due to the potential dilution effect.
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