Akero Therapeutics Prices Public Offering Of 11M Common Stock At $29/Share
Portfolio Pulse from Benzinga Newsdesk
Akero Therapeutics announced a public offering of 11M shares at $29/share, aiming to raise $319M before expenses. The offering includes an option for underwriters to buy an additional 1.65M shares. It's expected to close by March 8, 2024.
March 06, 2024 | 7:17 am
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Akero Therapeutics is conducting a public offering of 11M shares at $29 each, potentially raising $319M. The offering includes an underwriter option for an additional 1.65M shares.
Public offerings can dilute existing shares, potentially leading to a short-term negative impact on the stock price. However, the raised capital can be used for growth, which might offset the dilution effect in the long term. The neutral score reflects this balance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100