Reported Earlier, Intra-Cellular Therapies Prices Public Offering Of 6,849,316 Common Shares At $73/Share
Portfolio Pulse from Benzinga Newsdesk
Intra-Cellular Therapies has priced its public offering of 6,849,316 common shares at $73 per share, expecting gross proceeds of $500 million before deductions for underwriting discounts, commissions, and offering expenses.
April 18, 2024 | 7:42 am
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Intra-Cellular Therapies expects to raise $500 million from a public offering of 6,849,316 shares at $73 each.
The pricing of the public offering by Intra-Cellular Therapies is a significant financial move, aiming to raise substantial capital. While the influx of funds is positive, the dilution of existing shares might temper short-term stock price appreciation. The net impact on the stock price could be neutral in the short term as the market balances the benefits of capital increase against the dilutive effect of the new shares.
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