BridgeBio Pharma Prices Public Offering Of 8,620,690 Common Shares At $29/Share
Portfolio Pulse from Benzinga Newsdesk
BridgeBio Pharma has announced a public offering of 8,620,690 common shares at a price of $29 per share, aiming to raise approximately $250 million. The offering, exclusively consisting of shares sold by BridgeBio, is expected to close around March 8, 2024, pending customary closing conditions.
March 06, 2024 | 7:35 am
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BridgeBio Pharma is raising approximately $250 million through a public offering of 8,620,690 shares at $29 each, expected to close by March 8, 2024.
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 leading to a short-term decrease in stock price. On the other hand, the infusion of capital can be viewed positively if investors believe it will be used for growth-enhancing projects. Given the size of the offering and the current information, the short-term impact is neutral, but it's important to monitor how the raised funds will be utilized.
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