First Wave BioPharma shares are trading lower after the company announced a $4 million registered direct offering of 526,625 shares at $7.61 per share.
Portfolio Pulse from Benzinga Newsdesk
First Wave BioPharma's stock trades lower following the announcement of a $4 million registered direct offering of 526,625 shares at $7.61 each.

March 04, 2024 | 8:26 pm
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NEGATIVE IMPACT
First Wave BioPharma's stock price is likely to experience downward pressure in the short term due to the dilutive effect of the new share offering.
The announcement of a registered direct offering typically leads to a dilution of existing shares, which can result in downward pressure on the stock price. Given the size of the offering relative to the company's market cap and the offering price's potential discount to the current market price, it's reasonable to expect a negative short-term impact on FWBI's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100