Scilex Holding Reveals $10M Bought Deal Offering
Portfolio Pulse from Benzinga Newsdesk
Scilex Holding announced a $10M bought deal offering, with Rodman & Renshaw LLC and StockBlock Securities LLC as underwriters. They will purchase 5.88 million shares and warrants at $1.70 per share, excluding underwriting discounts and commissions.

February 29, 2024 | 10:38 pm
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NEUTRAL IMPACT
Scilex Holding has entered into a significant bought deal offering worth $10M, involving the sale of 5.88 million shares and warrants at $1.70 each.
The announcement of a bought deal offering can have mixed impacts on a company's stock price. On one hand, it provides the company with capital, which is positive. On the other hand, it increases the number of shares outstanding, potentially diluting existing shareholders. The price of $1.70 per share and warrant also provides a reference point for the market, which could influence the stock's trading behavior in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100