Apogee Therapeutics Announces Commencement Of $350M Proposed Underwritten Public Offering
Portfolio Pulse from Benzinga Newsdesk
Apogee Therapeutics, Inc. (NASDAQ:APGE), a clinical-stage biotechnology company, has announced the commencement of a $350 million underwritten public offering of its common stock, with an option for underwriters to purchase an additional $52.5 million. The offering is subject to market conditions, and the securities are offered by Apogee. Jefferies, BofA Securities, Goldman Sachs & Co. LLC, TD Cowen, and Stifel are the joint book-running managers.
March 05, 2024 | 9:30 pm
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Apogee Therapeutics announces a $350M public offering of common stock, potentially expanding to $402.5M, managed by major financial institutions.
The announcement of a public offering can have mixed impacts on a company's stock price. On one hand, it can dilute existing shares, potentially lowering the stock price. On the other hand, it can be seen as a positive move for growth, attracting investors. Given the size of the offering and the involvement of major financial institutions, it suggests confidence in Apogee's future, but the immediate market reaction could vary.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100