Scilex Holding shares are trading lower after the company announced a $10 million bought deal offering.
Portfolio Pulse from Benzinga Newsdesk
Scilex Holding announced a $10 million bought deal offering, leading to a decrease in its share price.
March 01, 2024 | 4:25 pm
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NEGATIVE IMPACT
Scilex Holding's share price has decreased following the announcement of a $10 million bought deal offering.
Bought deal offerings often lead to an immediate decrease in share price due to the dilution of existing shares. Given the direct impact of this announcement on Scilex Holding, it's likely to negatively affect the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100