Allogene Therapeutics Prices 37,931,035 Share Common Stock Offering At $2.90/Share; Gross Proceeds $110M
Portfolio Pulse from Benzinga Newsdesk
Allogene Therapeutics has priced its common stock offering of 37,931,035 shares at $2.90 per share, aiming to raise gross proceeds of $110 million.
May 13, 2024 | 8:50 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Allogene Therapeutics' new stock offering could dilute existing shares but also provides significant capital for operations and development.
While the offering could lead to dilution of existing shares, negatively impacting the stock price in the short term, the infusion of $110 million in capital is crucial for Allogene's operations and future development projects. This capital injection can be seen as a positive development for the company's long-term growth prospects, balancing out the immediate dilutive effect.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100