Reported Earlier, Cytokinetics Prices Public Offering Of 9,803,922 Common Stock At $51/Share
Portfolio Pulse from Benzinga Newsdesk
Cytokinetics has priced a public offering of 9,803,922 shares of common stock at $51 per share, expecting to raise approximately $500 million in gross proceeds. The offering is anticipated to close on May 28, 2024, pending customary closing conditions.
May 23, 2024 | 6:17 am
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Cytokinetics has announced a public offering of 9,803,922 shares at $51 per share, with expected gross proceeds of $500 million. The offering is set to close on May 28, 2024, subject to customary conditions.
The announcement of a public offering typically leads to a short-term decrease in stock price due to dilution concerns. However, the raised capital could be beneficial for long-term growth.
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