Arcutis Prices $150M Public Offering Of 15,789,474 Common Shares At $9.50/Share
Portfolio Pulse from Benzinga Newsdesk
Arcutis has announced a public offering of 15,789,474 common shares priced at $9.50 per share, aiming to raise approximately $150 million. The offering is expected to close on March 4, 2024, subject to customary conditions.
February 29, 2024 | 8:00 am
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Arcutis aims to raise approximately $150 million through a public offering of 15,789,474 common shares at $9.50 each, closing expected by March 4, 2024.
Public offerings often lead to short-term price declines due to dilution of existing shares. The significant amount being raised and the pricing of the shares at $9.50 indicate a potential dilutive effect on Arcutis' stock in the short term.
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