Reported Earlier, Dyne Therapeutics Prices $325.5M Public Offering Of 10.5M Common Stock At $31/Share
Portfolio Pulse from Benzinga Newsdesk
Dyne Therapeutics has announced a public offering of 10.5 million common shares at $31 per share, expected to raise $325.5 million in gross proceeds. The offering is anticipated to close around May 24, 2024.
May 22, 2024 | 7:09 am
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Dyne Therapeutics has priced a public offering of 10.5 million common shares at $31 per share, aiming to raise $325.5 million. The offering is expected to close by May 24, 2024.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in the stock price. However, the raised capital could be used for growth initiatives, potentially benefiting the company in the long term.
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