Reported Earlier, INOVIO Prices $36M Underwritten Offering Of 2,536,258 Common Stock At $7.693/Share
Portfolio Pulse from Benzinga Newsdesk
INOVIO Pharmaceuticals has announced an underwritten offering of 2,536,258 shares of common stock at $7.693 per share and pre-funded warrants for 2,135,477 shares at $7.692 each, before underwriting discounts and commissions.
April 16, 2024 | 7:51 am
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INOVIO Pharmaceuticals prices underwritten offering of over 2.5M shares at $7.693/share and pre-funded warrants for over 2.1M shares at $7.692.
The announcement of a new stock offering typically leads to a short-term decrease in the stock price due to dilution of existing shares. Given the size of the offering relative to INOVIO's market cap, this could have a notable impact.
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RELEVANCE 100