Evaxion Biotech Files For For Offer And Sale Of Up To 19.45M Ordinary Shares Represented By 1.945M ADSs By Selling Shareholders
Portfolio Pulse from Benzinga Newsdesk
Evaxion Biotech has filed for the offer and sale of up to 19.45 million ordinary shares, represented by 1.945 million American Depositary Shares (ADSs), by selling shareholders.
May 06, 2024 | 9:12 pm
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Evaxion Biotech's filing for the sale of up to 19.45 million ordinary shares could potentially dilute current shareholders' equity.
The sale of a significant number of shares, as indicated by Evaxion Biotech, typically leads to dilution of existing shareholders' equity. This dilution often results in a negative short-term impact on the stock price as the market adjusts to the increased share supply.
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