Milestone Pharmaceuticals Priced Its Public Offering Of 16.7M Shares At $1.50/Share And Pre-funded Warrants To Purchase 3.3M Shares At $1.49/Pre-funded Warrant, With Gross Proceeds Of Approximately $30M
Portfolio Pulse from Benzinga Newsdesk
Milestone Pharmaceuticals announced the pricing of its public offering of 16.7 million shares at $1.50 per share and pre-funded warrants to purchase 3.3 million shares at $1.49 per pre-funded warrant, aiming to raise approximately $30 million in gross proceeds.
February 29, 2024 | 12:18 pm
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Milestone Pharmaceuticals aims to raise $30M through a public offering of shares and pre-funded warrants, pricing shares at $1.50 and warrants at $1.49.
The announcement of a public offering can have mixed impacts on a company's stock price. On one hand, it can dilute existing shares, potentially leading to a short-term decrease in stock price. On the other hand, the influx of capital can be viewed positively if the funds are used for growth initiatives, potentially leading to a long-term increase in stock value. Given the specifics of the offering and the amount being raised, the immediate impact is neutral, as the market absorbs the details and potential uses of the proceeds.
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