Tenaya Therapeutics Announces Pricing Of $50M Underwritten Offering Of 8,888,890 Shares Of Its Common Stock At An Offering Price Of $4.50 Per Share
Portfolio Pulse from Benzinga Newsdesk
Tenaya Therapeutics, Inc. (TNYA) announced a $50M underwritten offering of 8,888,890 shares at $4.50 each and pre-funded warrants for 2,222,271 shares at $4.499 each. The offering, managed by Leerink Partners, TD Cowen, and LifeSci Capital, includes participation from notable investors like BlackRock and RA Capital Management. It aims to fund Tenaya's mission to develop therapies for heart disease, with closing expected around February 12, 2024.
February 08, 2024 | 1:04 pm
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Tenaya Therapeutics announces a $50M underwritten offering to fund its mission against heart disease, with notable investors participating.
The offering could provide Tenaya with significant capital to advance its research and development efforts, potentially leading to positive long-term outcomes. However, the dilutive nature of the offering might concern some investors in the short term, balancing the potential impact on the stock price.
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