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
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100