Organovo Holdings, Inc. Announces Pricing Of $5.25M Public Offering Of 6,562,500 Shares Of Common Stock And Common Warrants At A Combined Price Of $0.80
Portfolio Pulse from Benzinga Newsdesk
Organovo Holdings, Inc. (NASDAQ:ONVO), a clinical stage biotechnology company, announced a public offering of 6,562,500 shares of common stock and common warrants at $0.80 per share, aiming to raise $5.25 million. The warrants are exercisable at $0.80 and valid for five years. JonesTrading Institutional Services LLC is the exclusive placement agent. The offering is expected to close by May 13, 2024.
May 09, 2024 | 12:09 am
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Organovo Holdings, Inc. is raising $5.25 million through a public offering of shares and warrants at $0.80, with an expected close date of May 13, 2024.
The public offering by Organovo is a common financial activity for biotech companies seeking to raise capital for research and development. While it increases the company's cash reserves, it also dilutes current shareholders' equity. The neutral score reflects the balance between the potential for future growth from the raised capital and the immediate dilutive effect of the offering.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100