Prime Medicine Announces $125M Proposed Public Offering Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Prime Medicine, Inc. (NASDAQ:PRME) has announced a proposed public offering of $125 million of its common stock, with an option for underwriters to purchase an additional 15% of the shares. The offering is managed by J.P. Morgan, Jefferies, TD Cowen, BMO Capital Markets, and Chardan, and is subject to market conditions.
February 14, 2024 | 9:36 pm
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Prime Medicine announces a $125M public offering of its common stock, potentially diluting current shareholders but raising significant capital for the company.
Public offerings often lead to short-term negative price movements due to the dilution of existing shares. However, the capital raised can be beneficial for the company's long-term projects and financial health. The impact is considered negative in the short term due to the potential dilution effect.
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