Stoke Therapeutics shares are trading lower after the company announced the pricing of an upsized $125 million public offering of 5,555,557 common shares at $13.50 per share.
Portfolio Pulse from Benzinga Newsdesk
Stoke Therapeutics announced the pricing of an upsized $125 million public offering of 5,555,557 common shares at $13.50 per share, causing its shares to trade lower.
March 28, 2024 | 5:00 pm
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Stoke Therapeutics' shares are trading lower following the announcement of a $125 million upsized public offering at $13.50 per share.
The announcement of a significant public offering typically dilutes existing shares, leading to a decrease in share price as supply increases. The size of the offering and the set price point are critical factors causing the stock to trade lower in the short term.
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