Reported Earlier, Soleno Therapeutics Prices $138M Public Offering Of 3M Common Stock At $46/Share
Portfolio Pulse from Benzinga Newsdesk
Soleno Therapeutics has announced a public offering of 3 million shares of common stock priced at $46 per share, aiming to raise $138 million. The underwriters have a 30-day option to buy up to 450,000 additional shares. The offering is expected to close around May 7, 2024, depending on market conditions and customary closing conditions.
May 03, 2024 | 6:07 am
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Soleno Therapeutics is raising $138 million through a public offering of 3 million shares at $46 each, with an option for underwriters to purchase an additional 450,000 shares.
Public offerings often lead to a short-term decrease in stock price due to the dilution of existing shares. Given the size of the offering relative to Soleno's market cap, this is likely to have a significant impact. The exact effect will depend on investor reception and market conditions at the time of closing.
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