Allogene Therapeutics Files For Offering Of Up To 37.93M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Allogene Therapeutics has filed for an offering of up to 37.93 million shares of common stock, indicating a potential increase in its capital but also possibly diluting current shareholders' equity.
May 14, 2024 | 8:43 pm
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Allogene Therapeutics' filing for an offering of up to 37.93 million shares could lead to dilution of existing shares but also provide the company with necessary capital for operations or expansion.
The offering of a significant number of new shares typically leads to dilution of existing shareholders' equity, which can negatively impact the stock price in the short term. However, the influx of capital could be beneficial for the company's long-term growth, depending on how the funds are utilized.
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