Reported Earlier, Celldex Therapeutics Prices Upsized $400M Public Offering Of 8.52M Common Stock At $47/Share
Portfolio Pulse from Benzinga Newsdesk
Celldex Therapeutics has announced an upsized public offering of 8.52 million shares at $47 per share, expecting to raise approximately $400.4 million. The offering includes an option for underwriters to purchase up to an additional 1.278 million shares and is expected to close around March 5, 2024.
March 01, 2024 | 8:06 am
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Celldex Therapeutics is raising approximately $400.4 million through an upsized public offering of 8.52 million shares at $47 each, with a potential for additional shares via underwriters.
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 offering could impact investor sentiment negatively in the short term.
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