Reported Earlier, Erasca Prices Underwritten Offering Of 86,486,486 Common Stock At $1.85/Share
Portfolio Pulse from Benzinga Newsdesk
Erasca has priced an underwritten offering of 86,486,486 common stock at $1.85 per share. The proceeds will be used for research and development, working capital, and general corporate purposes.
May 17, 2024 | 5:23 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Erasca has announced an underwritten offering of 86,486,486 common stock at $1.85 per share. The funds will be used for R&D, working capital, and general corporate purposes.
The issuance of a large number of shares at a relatively low price may dilute existing shareholders' value, potentially leading to a short-term decrease in stock price. However, the funds raised will support R&D and corporate activities, which could be beneficial in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100