Cellectis Announces Completion Of AstraZeneca's $140M Additional Investment, Issuing Class A & B Convertible Shares
Portfolio Pulse from Benzinga Newsdesk
Cellectis announced the completion of AstraZeneca's $140M additional investment, with the issuance of 10 million Class A and 18 million Class B convertible preferred shares at $5.00 each. This move, authorized by Cellectis' shareholders on December 22, 2023, strengthens the financial and strategic partnership between the two companies.
May 06, 2024 | 8:11 am
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POSITIVE IMPACT
AstraZeneca's strategic investment in Cellectis through convertible shares demonstrates its commitment to Cellectis' technology and potential for future collaborations.
AstraZeneca's investment is a strategic move to deepen ties with Cellectis, potentially benefiting from its innovative technology. This investment could signal AstraZeneca's long-term interest in Cellectis' work, possibly leading to collaborative projects that could enhance AstraZeneca's portfolio and stock value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Cellectis' issuance of convertible shares to AstraZeneca for $140M strengthens its financial position and signals strong partnership potential.
The substantial investment from a major pharmaceutical company like AstraZeneca not only provides Cellectis with significant financial resources but also enhances its credibility and potential for future collaborations. This is likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90