Surrozen Announces Up To $192.5M Private Placement Of Securities Priced At-the-Market Under Nasdaq Rules That Will Result In Issuance Of ~12.2M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Surrozen has announced a private placement of securities valued up to $192.5 million, priced at-the-market under Nasdaq rules. This deal will result in the issuance of approximately 12.2 million shares of common stock.
April 01, 2024 | 12:31 pm
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NEUTRAL IMPACT
Surrozen's private placement of securities worth up to $192.5M will increase its shares outstanding by approximately 12.2 million. This could dilute existing shareholders but also provides significant capital.
The announcement of a private placement of this magnitude typically has a mixed impact. On one hand, it dilutes the value of existing shares, which could lead to a negative perception among current shareholders. On the other hand, the influx of $192.5 million in capital is a significant boost to Surrozen's financial position, potentially funding further research, development, and expansion efforts. The net effect on the stock price in the short term could be neutral as the market balances these factors.
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IMPORTANCE 90
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