Cytokinetics Plans Proposed Public Offering Of $500M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Cytokinetics plans a proposed public offering of $500 million of common stock, with an option for underwriters to purchase an additional 15% of shares. All shares will be sold by Cytokinetics.
May 22, 2024 | 8:03 pm
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Cytokinetics is planning a $500 million public offering of common stock, with an option for underwriters to purchase an additional 15% of shares. This move could lead to short-term stock price volatility.
The announcement of a large public offering typically leads to short-term stock price volatility due to potential dilution of existing shares. The option for underwriters to purchase additional shares adds to this potential impact.
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