Soleno Therapeutics Announces Proposed Public Offering Of Common Stock; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Soleno Therapeutics, Inc. (NASDAQ:SLNO) announced its intention to conduct an underwritten public offering of its common stock, with no specified size or amount. The offering includes a 30-day option for underwriters to purchase up to an additional 15% of the shares sold. Piper Sandler and Guggenheim Securities are the joint book-running managers. The completion of the offering is subject to market conditions, with no guarantees on timing or terms.
May 02, 2024 | 8:41 pm
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Soleno Therapeutics announces a public offering of its common stock, with Piper Sandler and Guggenheim Securities as managers. The offering's size and terms are yet to be determined, dependent on market conditions.
Public offerings often lead to short-term price declines due to the dilution of existing shares. The lack of details on the offering size and terms adds uncertainty, potentially affecting investor sentiment negatively in the short term.
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