Revance Announces Pricing Of $100M Public Offering Of 16M Shares Of Common Stock At A Price Of $6.25/Share
Portfolio Pulse from Benzinga Newsdesk
Revance Therapeutics, Inc. (RVNC) has announced a public offering of 16 million shares at $6.25 each, aiming to raise $100 million. The proceeds are intended for the commercial growth of its aesthetics portfolio, including DAXXIFY® and the RHA® Collection, and for general corporate purposes. Barclays is the sole book-running manager for the offering, expected to close by March 6, 2024.
March 04, 2024 | 2:26 pm
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Revance Therapeutics announces a $100M public offering of 16M shares at $6.25 each to fund its aesthetics portfolio growth and other corporate activities.
Public offerings can have mixed impacts on a company's stock price. While it indicates growth and expansion, dilution of existing shares might concern investors. Given RVNC's use of proceeds for commercial growth and R&D, the market might view this positively in the short term, but concerns about dilution could temper gains.
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