BioXcel Therapeutics Commences Public Offering Of $60M Of Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
BioXcel Therapeutics has announced a public offering of $60 million of its common stock, with an option for underwriters to purchase an additional $9 million of shares. This move could potentially dilute current shareholders but also provide the company with necessary capital for its operations and future projects.
February 08, 2024 | 9:04 pm
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BioXcel Therapeutics is raising capital through a public offering of $60 million in common stock, with a potential additional $9 million through underwriter options. This could lead to dilution for existing shareholders but also infuse the company with funds for growth.
Public offerings often lead to short-term negative impacts on a company's stock price due to the potential dilution of existing shares. However, the capital raised is crucial for the company's growth and development. The balance between these factors determines the short-term price direction, which is likely to lean negative due to immediate dilution concerns.
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